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Property sales in Kuwait rise 16% in February

Property sales in Kuwait rise 16% in February
Sales of residential properties stood at KWD 110 million

Mubasher: Property sales in Kuwait increased by 16% in February, recording KWD 284 million ($933 million), according to a report released by National Bank of Kuwait (NBK) on Saturday.

Such increase resulted after commercial property sales went up KWD 100 million ($328 million), while the number of transactions declined by 30% MoM, the report found.

Moreover, sales of residential properties stood at KWD 110 million ($361 million) February, while the sale of investment property decreased to KWD 74 million ($243 million).

Kuwait’s inflation grew 0.6% year-on-year (YoY) in February, compared to 0.4% YoY in January, the NBK’s data showed.