Kuwait-Mubasher: Sales of the real estate sector in Kuwait recorded a monthly rise of 5.8% to KWD 217 million in September, according to a report issued by Kuwait International Bank’s research unit.

The report noted that sales of the real estate sector posted an annual drop of 46%.

The sales saw a monthly decline of 22% to 335 deals in total transactions in September from 430 deals in August; recording less than half of the sales in September 2014.

Kuwait’s residential sector registered a slight rise of 3.2% on a monthly basis, posting KWD 89 million, yet the level remains 45% lower than September 2014.

Transactions totaled 227 deals; a monthly decline of 13.7% and 65% on monthly and annual basis respectively.

Meanwhile, the value of residential sector grew 19.6% monthly, and 56.5% annually to post about KWD 392,000 in September.