Kuwait real estate prices decline 50%: Tabtabaei
Prices of real-estate properties namely the housing units have fallen by 50 percent, the Commerce Undersecretary announced on Monday. Rashid Al-Tabtabaei, in a statement to journalists after inaugurating the 22nd Real-Estate and Investment Fair, indicated the prices of properties vary from region to another with regard of the location of the plot, nature of the region and the services available. Economic...
May 19th, 2009 by Anwar
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Kuwaiti family’s expenditures and savings among highest in the world
The average monthly expenditure of a Kuwaiti family is about KD1600 or 72.5 percent of the total monthly income which tops KD2200, revealed a set of statistics issued yesterday by the nation’s Central Statistics Administration (CSA). On the other hand a Kuwaiti family’s monthly savings stand at KD607, or 27.5 percent of the total family monthly earnings, indicated CSA, considering that...
May 7th, 2009 by Anwar
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Dubai rents slashed 50 pct in new RERA index
For tenants, that means landlords will be limited in how much they can increase their rents – to zero in many cases. The index is used by landlords to set rents. The Real Estate Regulatory Authority (RERA) rental increase calculator on its website on Wednesday showed huge differences in the rental range for many areas of the city compared to the authority’s rental index published in January. RERA...
April 30th, 2009 by Anwar
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Falling Dubai rents spark population move
“We are seeing major population shifts from other emirates to Dubai as well as different areas within Dubai,” Jesse Downs, director of research and advisory services at Landmark Advisory, was quoted saying in Emirates Business on Sunday. “This is primarily due to individuals looking to upgrade in terms of quality, location and size of apartments and villas.” She said there are...
April 26th, 2009 by Anwar
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Dubai property falls up to 30 pct in Q1
Landmark said in a report apartment prices in Dubai fell 23 percent during the first quarter, while villa prices dropped 32 percent. Landmark said signs of a recovery are emerging as owners hold on to properties and rent them out rather than slashing prices further. Property consultancies Asteco and Colliers said in separate reports published in the past week that residential sale prices in Dubai slumped...
April 22nd, 2009 by Anwar
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