Kuwait property market still weak, says KIB
Kuwait: Kuwait International Bank (KIB) has said in a report that weak performance in the countrys real estate market continued in the second quarter of 2009, with sales numbers rising, but values falling. There were 1,185 real estate transactions in Q2, 6% more than in Q1. But the value of those transactions fell almost 8% to KD430.7m in Q2 compared to Q1. Total deals in Q2 2009 were 42.5% lower than in the same period in 2008. In Q2 2008, 1,514 transactions were reported at a total of KD749.1m, with KD494,800 on average per transactions, the report said. [AMEInfo.com]
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