COVID CRISIS, THERE ARE 61,000 VACANT APPARTMENTS IN KUWAIT

  • 30/06/2021

Kuwait City: The real estate association said the occupancy rate in the investment sector stood at 84.6 per cent. This is according to last April's figures. There are currently 61,000 vacant apartments in Kuwait. The number of residential apartments is 335,100, or 84.6 percent. During the Covid crisis, apartment rents fell by 10 to 15 percent.


Jobs in the investment sector will fall to 82 percent by 2022. In 2024, it will increase to 85 percent. The association expects the number of migrant workers in Kuwait to fall by five per cent. And the association estimates that the average rent in 2024 will reach 2020 levels but be lower than in 2019. The press conference also saw the release of a new edition of the Real Estate Guide.

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