Kuwait will establish an administrative body to set property rents in a bid to avoid extraordinary price rises, Arabic daily Al Anbaa has reported. Landlords would be required to lodge their vacant property with the body, who would set rents according to criteria including the area, type of property, age and services, Al Anbaa said. Rents have been rising well above inflation in the past two years, with thousands of new foreigners arriving in the Gulf state but little real estate development.
Source : ArabianBusiness
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