Real estate market prices exaggerated in Kuwait

Real estate experts have unanimously agreed that the current prices in the real estate market are exaggerated, and have unhealthy repercussions on the market, reports Al-Qabas daily.

The experts said they anticipate the rate of increase in residential prices to continue in the year 2021 from five to ten percent.

The Vice-President of Real-Estate Brokers Union Emad Haidar explained that the residential sector is currently going through an exceptional phase, as all residential areas are witnessing an increase in prices despite the general economic situation of the country.

Other real estate sectors are being affected by a decline in circulation and prices, “otherwise we find the residential real estate sector to be active and witnessing an increase in circulation”.

He stressed that the prices in the residential sector are exaggerated, adding that, “today everyone is complaining, and blaming the officials as well as the speculators and traders”.