Kuwait Real Estate & Property Market
Kuwait property, apartments, villas, office space
The Kuwait real estate sector is witnessing an increase of positive energy that could not have come at a better time, as the Kuwait Government has entered into an ambitious twenty year plan to promote the tourism in the country. To add to this, the property sector has immensely benefited due to the announcement of the new regulation regarding Direct Foreign Capital Investment, which is bound to revolutionize the property sector. All these factors together indicate that the Kuwait real estate market which is already healthy is likely to boom further.
Due to the proposed twenty year tourism development phase, most developers expect an increased foreign interest in Kuwait property market. The Government has launched a 3.3billion US dollar project with the support of World Tourism Organisation and the UN Development Programme to build twenty hotels coupled with major tourism facilities to increase the tourist inflow to Kuwait each year.
Even the private sectors are welcome to invest in the ambitious plans so that the local companies could directly benefit from the increase in tourism, and could thereby contribute to Kuwait economy in future. This in turn, could increase the demand for holiday and residential units in Kuwait.
The citizens of Kuwait have realized the significance of the real estate sector and the local property market in Kuwait has witnessed significant development in trading and liquidity. Analysis reveal that the housing sector is the main pillar of market deals, supported by the country’s population, availability of housing system which provides suitable accommodation.
The residential real estate sector indicates strong growth, mainly due to the demand from the Kuwaiti population and the activities of the credit and saving bank. Even commercial sector shall maintain its position during the coming years due to considerable demand for business offices by private sector. Recently there has been rapid increase in expansion and development recently.
However, it is worth mentioning that the Kuwaiti property sector is already strong, and the recent developmental updates, all indicate a sustained and prolong growth in real estate activities in the country.
Kuwait Real Estate News
Kuwait property sector in need of new laws
The real estate market in Kuwait is in need of new laws to boost liquidity and improve funding for new projects, said a report by Emaar Alahlia Real Estate Company.
Expert warns architects to apply caution when designing for coastal regions
According to a researcher at the Coasts and Pollution Department of Kuwait Institute for Scientific Research, the designers of the buildings and facilities, adjacent to the beach, should bear in mind that sea waves can be enormous and quite harmful, although rarely.
Kuwait realty sector records 26% growth in transactions in Q2 2010
Kuwait real estate market has recorded good performance during the second quarter of 2010, said a recent report by Kuwait Finance House (KFH).
Government plans possibility of granting expats right to own properties
The government plans to study the possibility of granting expatriates the right to own properties, a new report said.
Kuwait real estate shows optimism in all sectors
The growth in commercial, residential and investment sectors of Kuwait real estate has been attributed to the optimism over implementation of development plan approved by the Parliament recently, says an economic report.
Real estate activity revives in Kuwait during March 2010
According to the latest NBK Real Estate Brief, the real estate activity revived this March, offering the first indication that the recovery in the sector may form a stepping up gear.
Commercial rents under pressure in Kuwait
Commercial rents in Kuwait continue to face pressure as office supply now outstrips demand, DTZ said yesterday.
Debts may hit Kuwait realty sector
The debt in Kuwaiti real estate sector is likely to leave its impact on short to medium-term outlook of the sector, as companies seek to re-balance their capital structure, reveals a recent report.
Kuwait property sector records 130pc growth in March
The real estate sector in Kuwait grew 130percent in March, compared to that experienced a year ago, due to high turnover in residential and investment property, revealed official data.
Kuwait residential sector still sluggish
Residential sector in Kuwait witnessed a slump during the first two months this year, inline with the decline in property sales during the period, according to latest report.