KUWAIT CITY: Real estate sales during December totaled KD 363 million, more than double the amount of the same month of 2011. Similar to November, the large y/y increase was a result of strong sales in all three major real estate segments. As for the full 2012, total sales reached KD 3.1 billion, up 16% compared to 2011 and indicating a generally healthy year for sales. Residential sector sales totaled KD 204 million in December, rising by a sizable KD 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% y/y.
The 3-month average (October - December) price for residential plots recorded 333 KD/m2, while the comparable price for residential homes recorded 632 KD/m2. These prices are aggregated across different governorates, as well as different specifications, and therefore only serve as a general indicator.
Read more: http://www.zawya.com/story/Real_estate_sales_reach_KD363m_up_16_yy-ZAWYA20130210060606/?lok=060600130209&&zawyaemailmarketing
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