Kuwait’s property market has been hit by the growing number of expatriates leaving the country, with several apartments now lying “vacant”, local daily Kuwait Times reported.
“Rising costs of living, stagnant wages for expatriates and growing anti-expat government policies are driving foreigners to leave the country,” the report stated.
Overall, 102,280 residency visas held by expats were canceled between 2015 and the end of 2018, according to data from Kuwait’s interior ministry along with the cancellation of 2,501 visas last year with the majority of those expats working in the public sector.
Kuwait has been working on reducing its expatriate population in order to boost nationalization in the workforce. Currently, Kuwaitis account for less than 30 percent of the country’s 4.7 million population at 1.4 million.