Apartment sales in Kuwait reached KWD 16.3 million from January until mid-May, marking a rebound in the first quarter of this year after a prolonged recession.
Apartment deals represented 1.4% of total sales in the real estate sector, according to Al Jarida newspaper’s statistics.
From January until mid-May, total property sales amounted to KWD 1.1 billion, it added.
Prices of sold apartments ranged from KWD 30,000 to KWD 180,000 per unit.
Apartment prices in Fintas were the cheapest with KWD 480 per metre, while units in Shaab were the most expensive with KWD 1,300 per metre.
Most of the transactions were implemented in the regions of Sabah Al-Salem, Fintas, Jabriya, Bneid Al Qar, Salmiya, Hawalli, and Shaab.
In 2018, apartment sales hit KWD 73 million, making up 2% of total deals in the real estate sector which reached KWD 3.6 billion.