Kuwait – Mubasher: Sales recorded in Kuwait's real estate sector dropped by 29% in 2015, after seeing record levels a year earlier, the research unit of National Bank of Kuwait said in a report.

The decline in the country's real estate market was due to the fall in oil prices coupled with regional woes, the report added.

Sales in the housing units sector saw recessions after it recorded strong performance for four years during which prices almost doubled. The total value of sold housing units amounted to KWD 1.4 billion in 2015.

The housing units price index steadied in December at 173.4 points, down 6.2% year-on-year.