KUWAIT – Kuwait real estate sales reached KWD 3.1 billion in 2012, an increase of 16 percent compared to 2011, National Bank of Kuwait (NBK) analysis said. Aggregate sales in the residential sector reached KWD 1.7 billion, up 20 percent y/y, and averaging 657 transactions per month, compared to a 494 average in 2011. The three-month average (October – December) price for residential plots recorded 333 KWD/m2, while the comparable price for residential homes recorded 632 KWD/m2. These prices are aggregated across different governorates, as well as different specifications, and therefore only serve as a general indicator. Residential sector sales totaled KWD 204 million in December, rising by a sizable KWD 117 million y/y. The jump in sales came from a higher number of transactions, especially for plots of land. The total number of all residential transactions in December rose by 73 percent y/y. Sales in the investment segment totaled KWD1.2 billion in 2012, up 16 percent y/y. – SG
