03 · Released data

Kuwait Housing Market

Index through 2026 Q2, the last mature quarter · transactions through 13 Sep 2026 · 558 qualifying sales in the headline quarter
This version built 2026-09-14 02:09 UTC
Index, 2020Q1=100
110.9
2026 Q2 · last mature quarter
Constant-quality level
755
KWD per sqm
Quarter on quarter
-3.1%
from 2026 Q1
Year on year
-3.1%
vs a year earlier
From the 2022 peak
-15.5%
peak 2022 Q3
vs pre-COVID
+14.7%
against 2019 Q4
Range From To Shaded = NBER recession
Scroll to zoom, drag to slide through time, on any panel · hold the middle mouse button (or Shift) and drag to select a window · every panel follows · double-click to reset · click any legend entry to hide or restore it · shaded bands mark NBER-dated US recession monthsTap a chart for values, drag one sideways to slide through time · the range buttons and month pickers set the window, every panel follows · tap any legend entry to hide or restore it · shaded bands mark NBER-dated US recession months

House price index

2020Q1 = 100 · constant quality · quarterly
Source: Macro Edge Research constant-quality index · underlying transactions Kuwait Ministry of Justice (real-estate transaction records)

Price level, KWD per square metre

anchored to the 2020Q1 pooled median
Source: Macro Edge Research constant-quality index · underlying transactions Kuwait Ministry of Justice (real-estate transaction records)

Index change, quarter on quarter

%
Source: Macro Edge Research constant-quality index · underlying transactions Kuwait Ministry of Justice (real-estate transaction records)

Drawdown from the peak

0 = a new high · the 2014 episode is on the same axis
Source: Macro Edge Research constant-quality index · underlying transactions Kuwait Ministry of Justice (real-estate transaction records)

House price index by governorate

per-governorate fits, each 2020Q1 = 100 · peak-to-2026 Q2 spread -28% to -14%
Source: Macro Edge Research constant-quality index · underlying transactions Kuwait Ministry of Justice (real-estate transaction records)

Annualised return, every buy → sell pair

2,926 holding windows of a year or more · colour saturates at ±10%/yr
 
Buy quarter along the bottom, sell quarter up the left; the colour is the annualised constant-quality return between them. Across the full record, 14% of the 2,926 windows lost money — the deep red block (press MAX to bring the full history into view) is buying into the 2013–16 top and selling through the correction that followed, worst at 2015 Q2 → 2016 Q2, -13.9%/yr. The wedge at the top right is buying at the 2022 peak: all 36 of them are still negative, worst -6.2%/yr, measured to 2026 Q2 rather than to today. Blank below the diagonal is a sale before the purchase; blank just above it is a holding under a year, where annualising mostly annualises noise. A record of what prices did, not a projection, and a single property can differ from the like-for-like average by far more than the colours shown. Source: Macro Edge Research constant-quality index · underlying transactions Kuwait Ministry of Justice (real-estate transaction records)

What houses cost, by area and plot size

91 areas · 15,283 sales · 2026 Q2

Last eight quarters

the national path, scaled to this size and area
QuarterPriceKWD / sqm q/qy/y
How this is built. A median regression of log price on plot size, area and quarter, fitted to 15,144 Ministry of Justice house sales since 2020. Doubling the plot adds about 61%, not 100%, and each plot size carries a small measured adjustment (within ±8%) so the figure matches the middle of completed sales at that size. The level is the model's own fitted median — not the index level shown above.
The band. The model knows size and area only, not age, condition or finishing, so it describes a market well and an individual house poorly. Half of actual sales land inside the range beside the price. Area sets the level, not the shape: every area moves at the national rate. Areas with too few sales to price show their recorded transactions instead.
Typical prices for a type of house, not a valuation of any property. Source: Macro Edge Research constant-quality index · transactions Kuwait Ministry of Justice. Historical outcomes are a record of what happened, not an indication of what will; nothing here is advice to buy, sell or value any property.

Transactions per quarter

every registered house sale
Source: Macro Edge Research · underlying data Kuwait Ministry of Justice (real-estate transaction records)

Transaction value per quarter

KWD millions · records outside the index's price sanity band excluded (11% of sales)
Source: Macro Edge Research · underlying data Kuwait Ministry of Justice (real-estate transaction records)

Nominal vs real (CPI-deflated)

both 2020Q1 = 100 · deflated by Kuwait CPI · ends 2026Q2
Source: Macro Edge Research constant-quality index · underlying transactions Kuwait Ministry of Justice (real-estate transaction records)

Price-to-income ratio

400 sqm at the constant-quality level ÷ the average annual wage of one Kuwaiti employee, both sexes, all sectors (CSB) · ends 2026Q1
Source: Macro Edge Research constant-quality index · underlying transactions Kuwait Ministry of Justice (real-estate transaction records)
Sources & methods The index is Macro Edge Research's own estimate, not an official statistic: a constant-quality (location- and size-adjusted) median regression on Ministry of Justice transaction records for private residential houses, chained by a non-revising rolling splice. It is a better-than-pooled constant-quality proxy, not a validated repeat-sales index. Pre-2020 figures are an analytical backcast and may be revised on re-estimation; 2020 onward is frozen once a quarter matures, and over the quarters where both exist the backcast and the frozen chain tell the same story. Figures are nominal Kuwaiti dinar unless marked real. Historical outcomes are a record of what happened, not an indication of what will; nothing here is advice to buy, sell or value any property. · Forecasts and track record → · Disclaimer