An Overview of the Property Markets in Kuwait

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Kuwait is one of the richest countries in the world. Situated in Western Asia, Kuwait is a very popular tourist attraction for people from all over the globe. It’s located right at the tip of the Persian Gulf and shares a border with Saudi Arabia and Iraq. With a population of just around 4.2 million people, Kuwait is also one of the smallest countries in the world. To give you an idea of just how popular Kuwait is for foreigners, out of the 4.2 million people living here, more than 2.8 million are actually expatriates. This accounts for almost 70% of the total population within the country.

From 2001 to 2009, Kuwait had the highest Human Development Index out of all the Arab countries. It is arguably the most democratic country within the region and also has the highest Gender Gap ranking within the region as well. Many have stated that there’s virtually no gender inequality in Kuwait.

It’s easy to see why Kuwait is such a popular attraction for expatriates. It offers a very high standard of living (that doesn’t cost too much money), and the country also provides a safe haven for its people. If you are thinking of buying property in Kuwait, now is be the best time in many years. Here are some of the reasons as to why this country is so prosperous.

Property Prices are on the Decline

One of the biggest reasons as to why you should invest your money in the Kuwait property market is because the markets are already in decline. One of the basic rules of investing is to enter the market when it’s at a low point, and then simply sell once the market increases. Because property values are so low right now, you could easily purchase large expanses of land for comparatively little money. You can contact local property investors and real estate agents within Kuwait to help you out. Kuwait City, the capital of the country, is an excellent choice for people who want to play it safe with their investments.

Housing Shortage

The market sits at a very unique stage right now. Despite the fact that the government has taken a series of different steps to alleviate the shortage of housing in the country and the economic concepts of supply and demand, values are still continuing to fall. However, according to expert forecasts, it is expected that the property market is going to rise in the near future. As more and more expatriates enter the market, they will be willing to pay more and more money for the local properties. It’s expected that almost 75% of the population will consist of expats by the year 2020.

Thus, for people who are looking to make a long-term investment in the property markets, now would be an ideal time to start shopping. It’s not really too difficult either; you can contact a local real estate agent in Kuwait to help you out. The real estate agent will guide you to the best neighbourhoods in which put your money. You can also adopt a short-term strategy, which can help you generate some quick returns.