Kuwaiti property sales fell -35.2% in February, the eleventh straight month of decline, according to official Government data.

Property sales, especially for residential units, have been falling since the state restricted private firms from residential deals last year.

Meanwhile, Gulf property markets are coming under pressure amid a global financial crisis that has brought to an end an economic boom in the oil-exporting region.

Residential property deals, which represented the biggest proportion of total property transactions, fell -52.59% in the year to February 2008 to 45.81 million dinars (US$155m).

Investment property sales fell -56.4% in February to 20.48m dinars, while deals in property classified as commercial almost tripled to 34.88m dinars from 12.49m dinars a year earlier, the data showed.