DEMAND FOR 'PRIVATE DWELLINGS' DRIVES UP LAND PRICES

  • 02/05/2022

Kuwait City: The Economist Intelligence Unit (EIU) discussed Kuwait's housing crisis, noting that the government had recently approved funding of 2.1 billion dinars for the South Saad Al Abdullah housing project, which is one of the projects being built on the outskirts of the capital to alleviate the country's chronic shortage of housing for middle-class people. 


However, the EIU estimates that increase in housing demand will continue to outstrip growth in new home supply until 2026, as political gridlock continues to obstruct much-needed adjustments to the market's systemic imbalance. According to housing sources, the chronic housing shortage for Kuwait's young population, which is rapidly increasing, has always been a source of great concern and resentment, because the waiting period for allocating government housing has become longer, often around a decade, with a backlog of requests from more than 100,000 people who wish to obtain housing.

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