The real estate market in Kuwait is one of the most vital sectors experiencing continuous development, contributing significantly to the national economy. It reflects the dynamics of supply and demand in residential, commercial, and investment properties. This report aims to provide a detailed analysis of real estate transactions during the week of February 2 to February 6, 2025, based on official data from the Real Estate Registration and Documentation Department.
What Was the Total Real Estate Trading Volume This Week?
During this period, the total real estate transactions amounted to 138,267,339.125 KWD, distributed across various property types as follows:
- Private Properties: 51,130,239 KWD
- Investment Properties: 68,732,100 KWD
- Commercial Properties: 10,900,000 KWD
- Crafts Properties: 6,255,000 KWD
- Retail Shops: 1,249,999 KWD
In contrast, there were no recorded transactions in exhibition halls, warehouses, coastal properties, or banking real estate, indicating relative stability in these categories.
How Were Real Estate Transactions Distributed Across the Governorates?
Real estate transactions were distributed across six main governorates, with the highest transaction value recorded in Hawalli Governorate at 27,281,000 KWD, while the lowest was in Jahra Governorate at 500,000 KWD. The distribution by governorate is as follows:
- Capital Governorate: 30,100,000 KWD
- Hawalli Governorate: 27,281,000 KWD
- Farwaniya Governorate: 15,400,000 KWD
- Mubarak Al-Kabeer Governorate: 6,603,000 KWD
- Ahmadi Governorate: 27,400,000 KWD
- Jahra Governorate: 500,000 KWD
What Were the Key Changes Compared to the Previous Week?
Compared to the previous week, the total number of transactions increased from 104 properties to 160 properties, marking an increase of 56 properties. The following changes were observed across different sectors:
- Private Properties: Increased by 13 properties.
- Investment Properties: Notable increase of 36 properties.
- Commercial Properties: Increased by 3 properties.
- Crafts Properties: Increased by 1 property.
- Retail Shops: Increased by 3 properties.
- Exhibition halls, warehouses, banking, and coastal properties: No changes were recorded this week.
What Were the Most Significant Real Estate Transactions This Week?
Several important real estate deals were recorded across different governorates, including:
Capital Governorate
- House in Dasma (6,500 m²) for 500,000 KWD
- Investment land in Daiya (51,066.46 m²) for 2,950,000 KWD
- House in Adailiya (2,375 m²) for 1,025,000 KWD
Hawalli Governorate
- Land in Jabriya (12,450 m²) for 415,000 KWD
- Investment building in Salmiya (103,122.5 m²) for 11,450,000 KWD
- Commercial complex in Hawalli (1,461,762 m²) for 10,900,000 KWD
Farwaniya Governorate
- House in Omariya (4,600 m²) for 370,000 KWD
- Investment building in Khaitan (7,500 m²) for 1,025,000 KWD
- Investment land in Jleeb Al-Shuyoukh (10,788 m²) for 1,800,000 KWD
Ahmadi Governorate
- Land in Sabah Al-Ahmad Marine (450 m²) for 2,902,000 KWD
- House in Ali Sabah Al-Salem (8,400 m²) for 220,000 KWD
What Is the Impact of the Cancellation of Real Estate Agencies?
Under Law No. 125 of 2023, real estate agencies have been abolished, which may significantly impact property registration and ownership transfer procedures in the future. This decision is expected to influence the real estate market by requiring buyers and sellers to rely more on official property registration processes rather than traditional brokerage methods.
General Analysis of Real Estate Market Trends
This report highlights an increase in demand for investment properties, as this category recorded the highest growth in transactions compared to other sectors. Additionally, the rising value of properties in governorates such as Hawalli and the Capital reflects the growing interest in strategic locations offering comprehensive services and proximity to business hubs.
On the other hand, the demand for commercial properties remains limited, with only a slight increase recorded compared to the previous week. This trend may be attributed to economic conditions and regulatory changes affecting real estate investments in Kuwait.
The weekly real estate report for February 2 – February 6, 2025, indicates an active market with a significant increase in transaction volumes. While investment properties continue to attract higher demand, the commercial real estate sector requires further incentives to attract more investors. Keeping track of legislative changes and their impact on the market remains essential to ensuring the stability and growth of the real estate sector in Kuwait.
