The residential sector accounts for 51.2% of total real estate transactions, highlighting growing demand for homes, lands, and apartments.
In the third week of October, real estate transactions recorded 90 deals worth KWD 61.11 million, of which the residential sector was responsible for 68 deals worth KWD 31.28 million.
Meanwhile the investment sector witnessed 20 deals worth KWD 26.76 million. In addition, a land, ‘Warehouse in Al-Ardiya’ was sold for KWD 2 million having an area of 1,000 square meters, and a land in Abu Futaira on the coastal strip was sold for for KWD 2 million having an area of 946 square meters.
The residential sector represents 51.2% of the total value of real estate transactions, reflecting the growing demand for residential units, whether houses, lands or apartments.
In a period of five months, the number of residential transactions did not fall below 41 transactions, with the highest number of transactions reaching 131 transactions, having a total value of 61.6 million dinars, and the average number of transactions was around 72.8 transactions.
House Transactions
According to statistics from the Real Estate Registration Department at the Ministry of Justice, 51 houses were traded for a total value of 22.5 million dinars, making houses represent 72% of the total value of the residential sector. Whereas 15 residential plots of land were also traded for a value amounting to nearly 8 million dinars.
Moreover, 12 houses were traded in the Hawalli Governorate for a value of 7.24 million dinars, and the highest deal was in Rumaithiya for a house worth 900 thousand dinars having an area of 1000 square meters.
In all the governorates, a house was sold in Rawda for 1.175 million dinars having an area of 750 square meters, followed by the sale of two houses in Khaitan, each of which was worth 1 million dinars having an area of 1000 square meters.
In Jahra Governorate, 10 houses were sold for 3 million dinars, including 5 houses in Mutlaa, while 5 houses were sold in the capital for about 3.5 million dinars.
In Farwaniya Governorate, 11 houses were traded for 4.78 million Kuwaiti dinars, while sales of 5 houses in Mubarak Al-Kabeer Governorate recorded about 1.9 million dinars.
As for residential plots, a land in Granada was sold for KD 800,000 having an area of 1,020 square meters, and 4 lands in Seville were sold for a total value of about KD 1.6 million.
Also, 6 lands were sold in Ahmadi Governorate for a total value of KD 3.4 million, five of which were sold in Sabah Al-Ahmad Al-Bahriya.
In Mubarak Al-Kabeer Governorate, three lands were traded for a total value of KD 1.5 million in Funaitees and Al-Masayel, and finally, in Al-Zahraa area, a land of 400 square meters was sold for KD 645,000.
“Investment” Trading
The investment sector witnessed the trading of 12 investment buildings during the week, worth KWD 21.9 million, representing 82% of the total sector trading.
Among these buildings, 4 were sold in Mahboula for KWD 5 million, and 4 others in Hawalli for KWD 7.4 million, in addition to some buildings in Fintas, Salmiya and Mangaf.
Two plots of land were also sold in Salmiya and Farwaniya for a total value of KWD 3.1 million, in addition to a house in Salmiya for KWD 1.32 million having an area of 673 square meters. Four apartments and a shop were also sold in Salmiya.
