Guide to  Kuwait

Hotels in Kuwait

Hotels in Kuwait
The Kuwait Hotels and Accommodation Directory provides a variety of accommodation choices to suit most people's budgets and needs from small, budget hotels in Kuwait short holiday stay and long-stay accommodation

Jobs in Kuwait

Jobs in Kuwait
Job seekers - find your dream job here

Property in Kuwait

Properties in Kuwait
There are tremendous opportunities to be found in Kuwait - not least because it is one of the quieter holiday home investment destinations and hence, remains, even today, partly undiscovered.

Restaurants in Kuwait

News Channels

Kuwait Travel News
Kuwait Real Estate News
Kuwait Employment News

Kuwait Real Estate News

Slump in Kuwait realty sector attributed to overpriced properties


According to a local property firm, Al-Mutakhasses, the recent fall that Kuwait property sector is facing, is due to the fact that buyers are being priced out of market values.

The Chairman of the property firm, Faraj Al-Khudari, said the market has been witnessing stagnation as the prices are above the capability levels of potential buyers, and this situation has led to increased gap in the prices of demand and supply.

The current increase in prices of real estate has been attributed to factors such as inflation, spiraling cost of construction materials, the summer season, and the lack of tourism-based investments.

The company called the government to establish an authority to promote the property sector. The government data reveals that the Kuwaiti real estate sales dropped by 35 percent in April, the first ever decline in months.

The Global Investment House had reported that the decline was perhaps due to the restrictions that the government had imposed on residential property trading, aimed to curb mounting inflation. The real estate sale jumped 15 percent in March.

The total value of all real estate transactions, including residential and commercial, was worth KD206.03mn in April, as against KD315.75mn one year ago. However, the residential sale, which is usually the biggest in the market, dropped down to KD94.31mn in April, as against KD185.47mn during same time last year.

Social Bookmarking
 Add to Del.icio.us Digg this article Add to Myweb.Yahoo! Stumble it Add to Newsvine Add to Google bookmarks Add to Propeller

Read more news

> Abyaar unveils new corporate identity
> Kuwait realty market hoped to rebound during Ramadan month
> Kuwaiti Realty Company Agility reveals expansion plans
> Kuwait records 50 percent rise in property sales in July
> Performance of Kuwait realty market likely to decline
> Kuwait property market likely to level-off in two years
> Kuwait Housing Authority to build 824 houses
> Mushaa Real Estate Company specializes in joint-sukook Real Estate
> Kuwait property sales dip by 28 percent
> Banks permitted property speculation