Executive Summary
Kuwait’s economic growth is expected to moderate in 2023 on the back of lower output from the oil sector and sluggish demand for oil due to an expected slowdown in global economic activity. The real estate market in Kuwait experienced a slowdown in terms of transaction values and volumes in H1 2023 due to factors including high interest rates reducing demand, decreased purchasing power of citizens, and uncertainty surrounding macroeconomic conditions and government policies. The real estate market is expected to experience a stable recovery in H2 2023. This anticipation is based on the implementation of new visa regulations, which are expected to favor expat inflows and revive occupancy rates.
