Mubasher: The value of real estate transactions in Kuwait declined by 17% month-on-month to KWD 283 million ($928.81 million) in June.

The number of transactions went down by 19% month-on-month to 485 in June, according to a report released by Kuwait Financial House (KFH).

Year-on-year, the value of real estate transactions in the GCC country rose by 33% in June, while the number of transactions increased by 29%.

The average value of residential and investment transactions grew by 5% and 3.7% year-on-year, respectively, while the average value of commercial transactions surged 77%, compared to the year-ago period.

The total value of real estate sales in Kuwait reached KWD 1.88 billion ($5.9 billion) during the first six months of 2019, a report by Kuwait International Bank (KIB) showed on Saturday, according to the Kuwait News Agency (KUNA).