Kuwait real estate sales drop 6.7 percent

(MENAFN) Kuwait's real estate sales dropped for the second month in a row, dropping by 6.7 percent compared to July and reaching USD862.5million, however August sales were still up by 12 percent compared to the same month last year Gulf Daily News reported.

Sales in the residential sector reached US386.5million in August, increasing by 6.5 percent compared to August of 2013, while the number of transactions during the month dropped by 2 percent compared to August 2013 to 511.

Meanwhile, sales in the investment sector reached USD431 million in August, which is more than double the value of sales in August last year, with 96 transactions taking place during the month, an increase of 35 percent compared to the same month last year.