Kuwait's real estate market had a big increase in 2024, reaching 3.7 billion dinars in total transactions. This was 36% higher than in 2023. The most trading happened in the last few months of the year, especially in December. In December, the total reached 442 million dinars, which was 33% higher than in November and 126% higher than in December 2023.
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Residential real estate made up 41% of all transactions, but it saw a small drop compared to last year. Even with the drop, it was still the largest part of the market with 1.554 billion dinars in value. This was 20.7% more than the previous year. The busiest time for residential real estate was the last three months of the year, with October having the most trades.
Investment real estate grew the most, reaching 1.224 billion dinars. This was 49% more than in 2023. Even though it grew, it still ranked seventh in history for the highest value. The best years for investment real estate were 2014, 2007, and 2018. Some areas like Hawalli and Ahmadi had lower prices, which helped boost trading in investment properties.
Commercial real estate also did well in 2024, reaching 745 million dinars. This was a 75.3% increase compared to 2023. The rise in commercial real estate was helped by things like expected cuts in interest rates, new laws against monopolies, and easier loans.
There were 4,950 transactions in total, which was a 13.6% increase from last year. The residential sector made up 70% of the transactions, investment real estate was 24.44%, and commercial real estate was 2.7%.
December also had the highest number of transactions, with 529 deals. The demand for real estate in Kuwait stayed strong. More people applied for homes, expatriates returned, and new laws encouraged investment. This shows that the real estate market in Kuwait is growing and still attracting investors, even with the global economy facing challenges.
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