Kuwait-Mubasher: Kuwait’s real estate sales declined 10% in the first quarter of 2016 compared to figures from the previous quarter, according to a report issued by Kuwait International Bank (KIB).
In Q1-16, the real estate sales totalled KWD 747 million ($2.48 billion).
The country’s total real estate sales went down 22% year-on-year (y-o-y) in Q1-16.
The fall in real estate sales is mainly attributed to lower oil prices, in addition to fears over economic and geopolitical developments in the region, the report highlighted.
