Tag: rent in kuwait
Rent values fall by 13 percent and Tens thousands flats are vacant
There are currently 49,130 empty flats in Kuwait and 26,466 others under construction; thus more than 75,000 units need to be “absorbed” by the domestic property market in 4-5 years, according to the Kuwait Real Estate Union.
Call to review rent contracts
Director of Technical Control Department and acting Director of Statistics Department in the Ministry of Electricity and Water (MEW) Engr Iqbal Al-Tayar has called on ministries and other governmental bodies to review their rent contracts in view of the application of new electricity and water charges as of Wednesday, reports Al-Qabas daily.
Salmiya and Hawalli areas have started reducing the rent
Owners of some investment buildings in Salmiya and Hawalli areas have started reducing their rent and two-bedroom flat— for the first time in many years, has gone down to KD 300 and below, reports Arab Times daily.
