Private housing speculators ignite costs of house prices – ARAB TIMES – KUWAIT NEWS – Arab Times Kuwait News

Private housing speculators ignite costs of house prices – ARAB TIMES – KUWAIT NEWS – Arab Times Kuwait News

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KUWAIT CITY, June 20: Real estate experts say that the speculators crowding out citizens in private housing is driven by the demand for the double return achieved from licenses for the cost of electricity and water prices and renting their properties in the unit system, considering that this behavior has ignited prices to record rates, which necessitates intervention to stop it to ensure the safety of real estate transactions in this sector, away from any price bubble, reports Al-Rai daily. The sources pointed out that the corona crisis caused significant price jumps in private housing prices, reaching 20% during 2021, driven by the large funds that investors and speculators withdrew from investment and commercial housing after it showed additional attractiveness during the crisis.