Kuwait: Real estate market witnessing ‘noticeable rebound’
Kuwait’s real estate market witnessed a “noticeable rebound” during the third quarter of this year, particularly in the investment and residential sectors as well as a rise in demand for sea chalets, recovering from the ramifications of the coronavirus pandemic. However, commercial and industrial sectors, as well as farmlands, are still suffering from temporary stagnation mainly due to high prices of lease contracts and electricity as well as lack of some services.
It is expected that the real estate market to recover by the beginning of next year. This might be driven by economic incentives to be discussed by the National Assembly during its current session, which will positively impact economic sectors, including real estate. The residential sector witnessed a rise in supply, but sales were minimal.
