(MENAFN) Kuwait was revealed in a study to be facing a real estate crisis, with over 75,000 apartments remain vacant.
Kuwait is stuck at the moment with 49,130 vacant apartments, with another 26,466 being currently built, Kuwait Real-Estate Union secretary general Ahmad Al Dewaihees noted.
During a news conference, the official declared an 8.2 percent decline in occupied flats, reaching 86.8 percent over the past five years from 95 percent.
According to the union's "Al Murshed 2017" report, a 13.2 percent decrease has been seen in average monthly rent, reaching KD242 from KD278.9.
MENAFN0805201800450000ID1096825180
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.