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Apartments for Rent in Kuwait

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Apartments for Rent in Kuwait

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Apartments for Rent in Kuwait
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Apartments for rent 

Kuwait’s currency is Kuwait Dinar, yet it’s the most expensive currency in the world! And perhaps you’re wondering why now? The reason simply lies in the fact that over 95% of the country’s export relies completely on oil, while the oil prices are set globally by OPEC, the small rich kingdom of Kuwait capitalize on this by setting an extremely high value for the conversion of its domestic currency.

About the real estate sector in Kuwait

Kuwait is a small country out of 2.2 million population, around 1 million of them are of Kuwait nationality only, while others are foreigners. Since the early beginnings, the country nationalized the oil industry thus made a leading contribution to urbanization and land construction. To assure the success of this effort, the government has managed to purchase lands from local Kuwaitis for public service projects then distributed the land to the citizens as well as Kuwaiti companies.

This process of redistributing land occurred in the following procedures:

Later on, the government started to involve the private sector to build constructions for public land. Even though the government has involved private companies on a minor level, still the government holds the upper land over most non-urban lands including agricultural and industrial lands . 

However, the country witnessed some decrease in demand due to a decline of expatriates numbers in the last few years as a result of government policy to replace them by Kuwaiti nationals in governmental jobs. Another reason for this is the growing trend of building constructions in private-held living hoods by many Kuwaiti nationals in order to rent apartments and yield returns on investments, which led to the increased number of supply compared to the decrease of demand.

Top Kuwaiti areas for rental

Now let’s take a quick brief about the best areas to rent apartments in Kuwait:

Most common types of rental apartments

There are many types of apartments, here we will come across the most common ones:

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