Macro-economic Data

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A. Demography and Macroeconomy

A.1 Population
VariableEnd of 2015End of 2014End of 2013SourcesVar ID
Total population3.89 million3.75 million3.59 million
WDI
A.1.1
Urban population (% of total)98.34% of total98.33% of total98.31% of total
WDI
A.1.4
Urban population growth (annual %)3.65%4.36%4.98%
WDI
A.1.5
A.2 Economy
VariableEnd of 2015End of 2014End of 2013SourcesVar ID
GDP, current prices (U.S. dollars)120,682 USD (millions)171,958 USD (millions)175,839 USD (millions)
WEO
A.2.1
GDP based on PPP valuation of country GDP (Current international dollar)288,382 USD (millions)282,971 USD (millions)278,316 USD (millions)
WEO
A.2.2
GDP per capita, current prices (U.S. dollars)29,363.03 USD 43,005.43 USD 45,202.08 USD
WEO
A.2.3
GDP based on PPP per capita GDP (Current international dollar)70,165.99 USD 70,769 USD 71,545.3 USD
WEO
A.2.4
GDP, constant prices (Percent change).9%.03%1.04%
WEO
A.2.5
Inflation, end of period consumer prices (Percent change)3.4%3.04%2.66%
WEO
A.2.6
GDP, deflator (Index)89.79122.87125.27
WEO
A.2.7
Consumer price index118.17114.42111.19
WDI
A.2.8
Growth in urban household income (%/year)A.2.13
Employment (% of total laborforce)A.2.14
Interest Rates:A.2.15
Central bank lending/discount rate2.25%2%2%
IFS
A.2.15.1
Yield on 3 months treasury bills  .83%
IFS
A.2.15.2
Average bank deposit rate2.03%2.02%2.02%
IFS
A.2.15.4
Lending rate4.28%4.27%4.56%
IFS
A.2.15.5
B. Housing Market
B.1 Housing Stock: Production, Transactions
VariableEnd of 2015End of 2014End of 2013SourcesVar ID
Number of dwelling units:B.1.1
Characteristics of housing stock:B.1.3
Tenure in urban areas (%):B.1.4
Owner-occupied units  67% of totalB.1.4.1
Estimated Number of units completed/yearB.1.5
Number of recorded urban housing transactions/year54247621 B.1.6
B.2 Housing Prices and Cost for Urban Areas or Capital City
VariableEnd of 2015End of 2014End of 2013SourcesVar ID
Median urban house price in USD:B.2.1
Median house price to median annual HH income:B.2.2
Annual average % change in median house prices:B.2.3
M2 construction cost for median quality houseB.2.4


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Notes: 40% DSTI ratio cap by Central Bank of Kuwait
Notes: A portion of housing loans are given by Islamic banks, which differ from conventional banks in that they follow strictly Islamic law. Islamic finance consists of financial transactions from banks and non-bank financial institutions and non-formal financial institutions based on solidarity, unity, and harmony. Kuwait has seen in last couple years a few of their conventional banks make the transition to Islamic banks in order to offer housing loans to satisfy demand for housing credit.
Notes: Apart from LTV limitations, DSTI ratio caps, and term length requirements, there are also separate laws that look to limit "flipping" of properties in a speculative manner--done through a prohibition of mortgaging outside of primary residences.
Notes: Apart from LTV limitations, DSTI ratio caps, and term length requirements, there are also separate laws that look to limit "flipping" of properties in a speculative manner--done through a prohibition of mortgaging outside of primary residences.
Notes: Apart from LTV limitations, DSTI ratio caps, and term length requirements, there are also separate laws that look to limit "flipping" of properties in a speculative manner--done through a prohibition of mortgaging outside of primary residences.
Notes: Apart from LTV limitations, DSTI ratio caps, and term length requirements, there are also separate laws that look to limit "flipping" of properties in a speculative manner--done through a prohibition of mortgaging outside of primary residences.
Notes: Apart from LTV limitations, DSTI ratio caps, and term length requirements, there are also separate laws that look to limit "flipping" of properties in a speculative manner--done through a prohibition of mortgaging outside of primary residences.
Notes: Apart from LTV limitations, DSTI ratio caps, and term length requirements, there are also separate laws that look to limit "flipping" of properties in a speculative manner--done through a prohibition of mortgaging outside of primary residences.
Notes: Apart from LTV limitations, DSTI ratio caps, and term length requirements, there are also separate laws that look to limit "flipping" of properties in a speculative manner--done through a prohibition of mortgaging outside of primary residences.
Notes: Apart from LTV limitations, DSTI ratio caps, and term length requirements, there are also separate laws that look to limit "flipping" of properties in a speculative manner--done through a prohibition of mortgaging outside of primary residences.
Notes: Ceiling on loans of KD 70,000 and max tenor of 15 years by Central Bank of Kuwait.
Notes: Ceiling on loans of KD 70,000 and max tenor of 15 years by Central Bank of Kuwait.
Notes: Central Bank of Kuwait limits LTV of 50 for undeveloped land, 60 for purchase of existing property, and 70 percent to housing construction in residential areas.
Notes: Central Bank of Kuwait limits LTV of 50 for undeveloped land, 60 for purchase of existing property, and 70 percent to housing construction in residential areas.
Notes: Central Bank of Kuwait limits LTV of 50 for undeveloped land, 60 for purchase of existing property, and 70 percent to housing construction in residential areas.
Notes: Financial Stability Report 2015 page 51
Notes: Financial Stability Report 2015 page 51
Notes: Kuwait credit bank
Notes: Kuwait Credit Bank, which offers the majority of housing loans to citizens, offers interest-free mortgage loans.
Notes: Kuwait Credit Bank, which offers the majority of housing loans to citizens, offers interest-free mortgage loans.
Notes: Page 27 - Central Bank of Kuwait limits LTV of 50 for undeveloped land, 60 for purchase of existing property, and 70 percent to housing construction in residential areas
Notes: Page 53 - Kuwait Savings and Credit Bank is now known as Kuwait Credit Bank and disperses housing loans, among others, to Kuwait's citizens.