(MENAFN) The Kuwaiti real estate sector recorded a decrease of about USD1.14 billion in the first quarter of the year; marking a fall that is equivalent to 27 percent compared to the previous quarter, Kuwait News Agency reported.
The sector's total rate in the first quarter was recorded at USD3.16 billion. Transactions rate, however, fell by 28 percent, down to 1,755 transactions compared 2,447 in 2014, according to statistics by the Ministry of Justice.
The data showed that trades in the fourth quarter of 2014 amounted to USD4.3 billion, but in the first quarter of this year, trades total went down to USD2.96 billion.
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