Private housing speculators ignite costs of house prices in Kuwait

Private housing speculators ignite costs of house prices in Kuwait

Kuwait - 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.

It seems that what was presented by the daily published under the title ‘Electricity with (two fils) in one house only’, tested the deep waters, according to citizens affected by the private housing crisis and real estate experts who warned of the repercussions of the continuation of speculation on residential real estate in order to demand a comfortable return even if it was not worth it. Interacting with what was published by the daily, the large liquidity available in the market,