Rents of apartments are starting to decline in Kuwait
The rents of apartments are starting to decline from the Tenth Area (outskirts) to Farwaniya, Salmiya and Hawally areas especially with the presence of hundreds of empty apartments in these areas. The decline in rents has led to suggestions of annual renewal of rent contracts and allotment of ceiling in hikes as applied in Dubai, reports Al- Rai daily. In the same context, sources revealed that the rent of a one-bedroom apartment has reduced from KD 230 to KD 210 while the rent of a two-bedroom apartment has reduced from KD 370 to KD 340. They added that the demand for renting residential apartments will decrease by 60 percent compared to last year, a development which worries real-estate companies.
Source : ArabTimes
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LABOR LAWS
1: Official paid holidays in Kuwait ( Article 68 )
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It should decrease more coz if they are Gona implement the law that one family can stay in one flat so no one is there who can afford it. Because a normal person who's salary is 250 and he have family here how he can stay in 230/- flat with this salary and his family expens haram haram haram for the sake of Allah oh people don't become firon Don't forget Allah is there and when he will catch you by yourself much know better than us what will happen…
Is this gonna effect in real or will it remain in documents ??? Btw, the rents given above is just example or the exact number? If it's exact then it's a bad nws for me since I pay les than wat they given… 🙁