Kuwait real estate sector firmly on the rise

tony nguyen

A leading Kuwaiti property specialist has claimed that the nation has seen a significant improvement within property investment in the first half of this year..

Qais Al-Ghanem, secretary of the Real Estate Union, has claimed that property investment, primarily in the form of the leasing and ownership of apartment buildings, has been on a steady upward curve.

Al-Ghanem suggests that low interest rates on bank deposits were thought to be the main reason for the revitalisation of the sector.

Investors were attracted to the obvious potential for significant returns and the whole sector consequently received a boost.

The news follows on from a report published by the investment bank Global Investment House which suggests that residential real estate markets in Kuwait and Saudi Arabia are increasingly becoming attractive for investors.

The report also suggested that rents in Bahrain remained under pressure during the second quarter of this year, but demand for affordable housing was still firmly intact.

Oman residential rates continued to decline throughout the second quarter of 2011. Industry specialists estimated the year to date rental decline was at 15%.

The report was also notably positive about the Qatari property market. The residential market there is showing signs of stabilisation and the signs for the future are thought to be largely encouraging.

Transfer Money to Kuwait

If you are looking to invest in Kuwait, think carefully about how you will be transferring money to Kuwait. Foreign currency exchange rates quoted by banks are almost always worse than the exchange rates available through specialist currency dealers.

So if you are sending money to Kuwait – which you will inevitably have to do if you are looking to make a property investment, be sure to compare the market before you buy your overseas currency.

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Kuwait real estate sector firmly on the rise

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