Kuwait real estate sales in April up 60 per cent year-on-year: NBK

Real estate sales in Kuwait in April were worth KD 447m, 60 per cent higher than the figure recorded in the same month of 2013, according to a report issued today by the National Bank of Kuwait (NBK).

“Real estate activity hit a new historic record in April, further confirming the strengthening of the market thus far in 2014,” the NBK report said. “Sales were up across all sectors with an exceptional performance by the residential sector.”

NBK said that sales in the residential sector reached KD 220 million in April, a 45 per cent increase on the figure recorded in April 2013.

“Ahmadi continues to dominate with 38 per cent of transactions, followed by Mubarak Al-Kabeer with 25 per cent,” NBK said. “Sales of vacant plots, as opposed to finished buildings, accounted for 58 per cent of all residential transactions in April.”

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