Hike In Real Estate Prices

A real-estate expert Tareq Al-Ateeqi says investing Kuwaiti capitals for purchasing real-estate overseas has negative impacts on the national economy and the real-estate market, especially when comparing those prices to the inflated prices of real-estate in the country.

He revealed that the price of a house in some areas of the Capital Governorate reaches almost KD 1 million, insisting that the prices of properties overseas are low compared to those in Kuwait.

Al-Ateeqi explained that the price of a seafront apartment in Eastern Europe is not more than KD 20,000 but the price of an apartment and a chalet in Kuwait is not less than KD 100,000 and KD 94,000 respectively.

 

SOURCE : ARABTIMES

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