(MENAFN- Kuwait News Agency (KUNA)) Real estate transactions in the country last March came to KD 361 million, picking up steam after a three month period of lackluster purchases and sales, said a Kuwait Finance House (KFH) report on Friday.
In its monthly real estate report, KFH indicated that during last March, the average daily real estate transaction was about KD 16 million, noting that the bulk of the value of transactions in that month came from home sales and purchases.
Home sales and purchases amounted to 55 percent of real estate activity last March, said the report, noting that apartment sales and purchases amounted to 36 percent, and commercial ones to just six percent in that month.
While the number of transactions increased by 78 percent last March, their value however slipped by 20 percent from the month before, namely February, reaching a little more than KD 460,000 for the single transaction, said the report.
The total number of transactions last March was 784, with most taking place in the governorate of Al-Ahmadi, followed by that of Mubarak Al-Kabir, Hawalli, Al-Asema, and Al-Jahra, indicated the report.
Regarding home sales last March, there was a significant spike with a total value of transactions topping KD 198 million, with an overall single average transaction reaching KD 326,000, said the report, noting that the number of transactions of apartment buildings increased by a whopping 46 percent last March than the month before.
On the other hand, transactions of commercial real estate lost steam last March by 16 percent to reach only KD 22 million, said the report.
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