Latest News
- Court Sentences Bank Employee To 5 Years For Embezzling 100,000...
- Fake ‘Sheikh’ Sentenced To 2-yr As Court Overturns Verdict
- Justice Ministry New Service On The Sahel App
- Ministry Probes 68 Cases Of Illegal Charity, Funds Collection
- Globally, Kuwait Is Among The Top Consumers Of Incense And Oud O...
- Decrease Seen In Foreign Investment
- Kuwait Customs Seized 2 Containers Laden With Tobacco At Shuwaik...
- Unpaid Salaries, Accountant Beaten Up By Workers
- The Sahel App Was Not Hacked, A Spokesman Claims
- Four Expats Arrested For Stealing Copper Cables Worth 60,000 Din...
- Indian National Died In Abdalli Car Accident
- Work Permits And Foreign Worker Transfers Are Amended By PAM
Salmiya And Hawalli Areas Have Started Reducing Their Flats 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.
Lute The daily quoting sources pointed out that most of the buildings are new and their owners have agreed with real estate agents to rent two-bedroom flats for KD 280 in Salmiya area.
They added the rent of three-bedroom flats also dropped to KD 400 and below in areas like Fintas after jumping down from KD 420 to KD 390. They added that marketing of investment flats became so difficult that some real estate agents decided to relinquish their commission in order to manage the buildings.
They stressed an investment group sealed a deal to purchase five investment buildings for KD 6 million and this reflects the current condition of real estate market. He added that minor investors are willing to dispose of their buildings because they can’t bear the losses for a long time, and they look forward to quick gains while major investors on the contrary, are prepared to take the risk of purchasing more buildings to their advantage.
SOURCE : ARABTIMES
Trending News
-
Eid Al Fitr 2024: Crescent Moon Not Sighted In Sau...
08 April 2024
-
Kuwait Implements Home Biometrics Services Ahead O...
14 April 2024
-
When Will Eid Al Fitr 2024 Take Place In Qatar, Ba...
08 April 2024
-
On Sunday, The Meteorological Department Warns Of...
07 April 2024
-
Kuwait Airways Provides Update On Flight Schedule...
14 April 2024
-
Kuwait Airways Introduces Convenient Home Luggage...
15 April 2024
-
Gathering For Eid Al-Fitr Prayers: Kuwaiti Citizen...
10 April 2024
-
Winners Of Kuwait National Assembly 2024 Elections
06 April 2024
-
Bay Zero Water Park Kuwait: Summer Season Opens Ei...
11 April 2024
-
An Egyptian Expat Dies At Kuwait's Airport
11 April 2024
Comments Post Comment