RIYADH: Kuwaiti banks lending to the property sector jumped in the initial two months of the year, reported by Al Arabiya.
Lending decreases by 64.6% which is 224.6 million Kuwaiti dinars by the end of February in comparison to 692.5 million Kuwaiti dinars in December 2020.
Mortgage finance fell by 16.8% in February 2021 when compared with a month earlier data, Al Arabiya said, mentioning Kuwait Central Bank monthly data.
The regional property market has been beaten by the twin blow of the coronavirus pandemic and persistently weaker oil costs that have boosted the consumer demand for new homes in some Gulf states.