Kuwait Real Estate News
Kuwait realty market hoped to rebound during Ramadan month
Although the realty market in Kuwait has noticed a drop in activities during the past five months, it is hoped to rebound during the month of Ramadan, revealed a market expert last week.
Faraj Al Khidri, the Chairman of Al-Mutkhasis Real Estate Company, when talking about a real estate market report, said that a rebound of the market would be prompted by the return of several investors who would have returned from their summer vacations abroad.
This judgement by al Khidri, was based on the past Ramadans, which has seen Kuwaiti investors steer away from investing in stocks during the month of fasting, as they find it “unkosher”, and therefore, pour in their investments into real estate transactions.
This trend was seen to a large extent last Ramadan, recalled Al Khidri, and added that however, the realty market would not recover to the extent of matching its robust growth phase seen about eight months ago.
Anyway, it is unnatural to expect a rebound of market buoyancy in just one brisk month, he said.
This ambitious view of the property market performance this Ramadan, has been further strengthened by the economic prognostications that inflation would eventually retreat to not more than 7 percent towards the end of the year, after having spiked to 11.4 percent last April, he briefed.
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