RIYADH: Kuwaiti banks lending to the property sector jumped in the initial two months of the year, Al Arabiya reported.
Lending decreases 64.6% to 224.6 million Kuwaiti dinars by the end of February in comparison to 682.5 million Kuwaiti dinars in December 2020.
Home loan finance fell by 16.8% in February 2021 when compared with the previous month, Al Arabiya said, citing Kuwait Central Bank monthly data.
The regional property market has been blown by the twin blow of the coronavirus pandemic and enduring weaker oil costs that have dampened consumer demand for new homes in some Gulf states.