Kuwait real estate sales up 35 per cent in 2011

23 February 2012

Inflation expected to average 4 per cent in 2012

Real estate sales in Kuwait rose 35 per cent in 2011 to hit KD2.7bn ($9.7bn), with activity expected to continue picking up throughout 2012. Sales slowed down in December 2011, but rose again in January 2012.

In 2011, residential property accounted for 54 per cent of the total sales, the investment sector 37 per cent, and commercial sales the last 9 per cent.

Inflation in Kuwait averaged 4.8 per cent in 2011, and fell to 3.1 per cent in December compared to the December 2010. National Bank of Kuwait is forecasting that inflation in the country will fall to 4 per cent in 2012 as most product prices are relatively stable. The main factor driving up inflation is food prices, stemming from international commodity prices.

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