Kuwait Real Estate Report - H2 2023 Review and H1 2024 Outlook

Executive Summary

Kuwait’s real estate was stable in 2023. While prices and rents held steady, there was a decline in value of transactions as the pent-up demand post-pandemic began to normalize. In addition, increasing borrowing costs and slow pace of reforms has weighed on activity in the sector.

Based on assessment of key macro factors that would impact Kuwait property market, we believe that the real estate market in Kuwait would continue to be stable in 2024 amid promising prospects for pick up activity during later part of the year. Expected growth in economic activity, stable inflation and ending of monetary tightening support outlook for the sector.