You are thinking about buying a property in Kuwait, and that’s a great idea and opportunity. Then you should get information about property prices in Kuwait. Luckily for you, if you are a foreigner there, now it is possible to buy a property. Keep in mind that, the property will not give you residency status in Kuwait.
But they have some rules you need to follow:
- Never have been convicted of any crime in Kuwait – They are strict in terms of crime. So, when they say ANY crime, they mean it.
- You are a long-term resident – You cannot by a property in you are there a month or two or you are going there just for a vacation.
- No more than 350 square meters – The apartment or house you will buy must be no larger than 350 square meters.
- You can buy only one property – Property prices in Kuwait are high, so check everything before buying it. You can buy just one house, apartment or land and that is an additional reason to be careful.
Kuwait is now a large country with a lot of people. But they have rich culture and history. The population of Kuwait is about 4 million. Even 70% of the population in Kuwait are expats. There are around 781,288 Indians and they are the largest expatriate community in Kuwait. If you want to move, you will need moving company you can trust.
Property prices in Kuwait depend on what?
It depends on the oil industry in that area. The report highlighted the decline in Kuwaiti property prices as a result of the economic uncertainty. The property situation is expected to last unless a positive development takes place in the market such as oil price rise. To avoid corruption, try to find a real estate agent with a good reputation and a good lawyer too.
Moving to Kuwait
Moving overseas is not an easy job if you living now on the other side of the Earth. As we mentioned before you must be long-term resident if you want to buy a property in Kuwait. And of course, the maximum apartment size has to be 350 square meters. So, if it is small for you and your family or company, then you should be creative. For example, you can search for warehousing in Kuwait. The storage unit is a perfect solution for the items you do not use currently. Kuwait is a nice place for family and children and starting a business too. So, take a chance and move there.
What are property prices in Kuwait
Well, at the beginning Kuwaiti properties are not cheap, but of course, you can find something you can afford and love. But, can you find affordable properties in Kuwait? Don’t worry about the costs of living in Kuwait, they are not so expensive. Prepare your documents, money and call real estate agent. Make a wish list. First, do you want to buy just a land, house or apartment? Think twice, what will be the best option for you and your family? It is not a simple decision to make, but with the right information, it could be. So, let’s start.
The average price of one square meter in the city center, for example, Kuwait City is 2,256 KWD (7,458 U.S. dollars). And on the outside of the city center is 4,110 KWD (13,587 U.S. dollars). Kuwait City is the most expensive city. Buy, he has the reason for that, because it is the political, cultural and economic center of Kuwait. Once you feel his vibe and energy, you will not want to leave this beautiful and rich capital of Kuwait. Everything you want is there, good schools, parks, museums, restaurants. Kuwait city does not sleep, for sure.
It is city area in Hawalli Governorate, located at 12 kilometers Southeast of Kuwait City. Salmiya consists of both residential and commercial areas, and it is a popular commercial and cultural hub. It is a perfect place for families and you do need to worry about their education. Schools and universities are great. Last but not least, property prices. We will make you happy because the price per square meter is lower than the average price we mentioned before in Kuwait City. Price per square meter to buy an apartment in the city center in Salmiya is 850 KWD ($2,810). Outside of the city center is 800 KWD($2,645).
The prices are higher than in Salmiya. If you want an apartment in the city center, a square meter will cost you 1,350 KWD ($4,463), but if you go a little bit away from the city center, the average price per square meter is 1,400 KWD($4,628). Yes, you read it well. The city center is cheaper than the suburb. One interesting fact about Mahboula, when you translate it, Mahboula means “Mad Woman”. There you can see the high rise tower Nofa Towers, Mareena Towers, Bader Complex and many other incredible buildings.
When you have done with packing you should hire shipping companies in Kuwait. So, find reliable movers it is the first step. Property prices in Kuwait are variable. Sometimes they change from month to month. So, take your chance and make this step fast. It is a big opportunity for the whole family. Maybe, in the beginning, it sounds like the properties are too expensive, but salaries are high too, so it will not be a huge problem to own a property in Kuwait.