According to the most recent data available from the Ministry of Justice’s Real Estate Registration and Documentation Department, there has been a notable surge in liquidity within the real estate sector during the initial 18 days of August compared to the corresponding period in July, reports Al-Rai daily. The aggregate value of contract and agency transactions in this period reached approximately 210 million dinars. This reflects a substantial increase of 46.44 percent in comparison to the liquidity levels recorded during the same period in July, which amounted to about 143.4 million dinars.

The transactions during the first 18 days of August were divided into roughly 208.77 million dinars for contracts and approximately 1.217 million dinars for agency transactions. This period saw a total of 271 real estate deals, consisting of 268 contracts and 3 agency agreements. Of these deals, the Al-Ahmadi Governorate exhibited the highest number with 114 transactions, constituting approximately 42 percent of the total real estate deals during this period.

The Hawalli Governorate followed with 53 deals, making up around 19.55 percent. The Capital Governorate accounted for approximately 40 deals, or 14.76 percent, while the Jahra Governorate had the lowest number of deals with 17 transactions, equivalent to about 6.27 percent. In terms of specific categories, the value of transactions in the private housing segment totaled roughly 77.73 million dinars during the first 18 days of August. This marks a decrease of 5.2 percent compared to July 2023, when the value was around 82 million dinars. Consequently, the contribution of private housing activity to the overall value of real estate transactions dipped to about 37 percent, down from 57 percent in the same period in July.

Conversely, the investment sector displayed a significant uptick in trading activity, with transactions amounting to approximately 109.567 million dinars. This represents a noteworthy surge of about 151.8 percent compared to the corresponding period in July, which recorded around 43.575 million dinars. The investment sector’s contribution to the total liquidity surged to about 52.17 percent, compared to 30.4 percent in the same period of July. Furthermore, the value of commercial activity transactions rose to about 18.6 million dinars during the first 18 days of August, signifying a 59.8 percent increase compared to July’s value of 11.64 million dinars. This contributed about 8.85 percent to the overall value of real estate transactions, as opposed to 8.11 percent during the same period in July.

© 2022 Arab Times Kuwait English Daily. All Rights Reserved. Provided by SyndiGate Media Inc. (