This is the review but it is a very plain truth is that you do not lose when you invest in real estate!”
When you want to invest in real estate that there is no matter that what side of the world it is, you are sure with a enough return on investment.
Kuwait is a small country. It is located on the northwestern of the Persian Gulf.
Kuwait is a very rich country provoke to being small in size according to the fact that this country having 96 billion butt of oil reserves.
It is next to the Saudi Arabia which is in South, Iraq which is in East and Iran which is in North.
Kuwait property can be consists which is related to three parts;
Now let us discuss a few of the important properties. Here in this article,
• Residential property:
There is an excess of residential property which can be testified in the country.
The areas in which an advents are related to stay in the country. These areas are:
We also see the fashion that the property is dearer in the coastal areas. Increasing in the property shows that the most apartments are situated outside the city, while the villas are mostly present in the city.
But the bad luck is that it is not too much easy to search a location to live in Kuwait.
Everybody wants to locate things through internet in this information technology oriented world but the fact is that there are only 4 or 5 websites available which are real estate oriented and those are of poor content quality.
So it is clever to try out the other methods. One method which is called as ‘Driving Around at Night.’
This method is a good choice to having a real estate agent who would charge you for his services.
Drive out in the night through the residential areas of the city and look for anybody who wants to rent out his house.
This will take a little bit of your efforts and it will give you the opportunity you to save costs.
• Tenant laws:
Those people, who do not always purchase a property but it, will take a residence in the exchange of monthly fare of rent.
There are some laws which are related to the tenant laws of Kuwait. Some of these are discuss below:
1- The proprietor has the right to increase the rent during the period of the lease and which will be the maximum to an amount double than the original lease rental. The building can accept the new terms, or leave out the property.
2- The proprietor can remove occupants after 5 years of the contract. In addition to these, a notice from court should be produced for such an act. If there is no such notice which is produced, the contract will renew automatically for another 5 years.
3- If the proprietor wants the occupant to remove the property before the period of 5 year ends, then a notice should be produced, nine months before the occupant is asked to vacate the property.
4- The contract of lease is not affected at all, if the proprietor sells the property during the tenure of the lease.
• Expats and Kuwait property:
The international people were not permitted to own real estate in Kuwait before, even the rule didn’t apply to the citizens of Bahrain, Qatar, Oman, Saudi Arabia, and UAE.
There are many social groups which are in the suit of permitting the expats to earn property in Kuwait.
Now in the present, the rules are permitted expats to buy the property in Kuwait with under some limited situation.
In addition to this, there are still choices of rental which is more possible as compared to purchasing a house.
The standard rent of a small house is KD 300 while rent of a villa costs to KD 2000.