Kuwait RealEstate & Accommodation Rates In Danger!Posted by in Economy | Kuwait Life | Others | Reviews
Kuwait realestate and accommodation rates are really in danger from what I see. First of all, there are no any authorized ministry in Kuwait which can manage the rate prices of rental of accommodations, flats, floors, office and real estates. Most of the new families in Kuwait are in danger to buy their own house in any of the suburbs in the city or around the city. If they need to wait their turn by the government they need over 10 years to post their names of any of the government houses.
Last week I sat and read the prices on the AlWaseet newspaper. These are the prices we’re I’ve written:
- Flat 3 room, 2 restrooms, kitchen and maid room in AlSalam = 370KD/monthly
- Flat 3 rooms, 3 restrooms, maid room and kitchen in South Mishref = 550KD
- Office rental, full floor 180m, 10.750KD per meter = 1,945KD
- Flat 4 rooms, kitchen, 3 restrooms and maid room in Qurain = 480KD
From these researches, do think an ordinary small family have the capacity to pay these rental and also the owners can increase the price anytime during the contract period and that is one of the policies.
Also most of the flats in suburbs are located in ordinary houses with the owner house. Although, families building extra floors at their houses for their future kids to stay rather than renting outside with high price rates.
Finally, from the last government statistics the inflation rate in Kuwait by Febrauty is 3.8% rather than in 2011 3.5%. So where do we end, if everything is getting expensive.