Housing Rent Devours 51% of Kuwaitis Salary
According to a study carried out by the National Center for Development Research, it indicated that the average income of an employee is 1,320 dinars per month, and the average rental value of housing in residential areas ranges between 550 dinars and 800 dinars, meaning that the rent accounts for about 51% of the salary. The study indicated that the increase in the number of applicants requesting the right to housing care is due to the lack of opportunities to obtain housing outside the scope of the Public Authority for Housing Welfare (PAHW) at a cost that enables the citizen to buy his own home, as the level of housing prices exceeds the capabilities of the citizen. The study identified a number of reasons behind the housing crisis such as the rise in housing prices and rents. The private housing sector in Kuwait suffers from a lack of supply and an increase in demand, which led to a significant increase in prices during the past years this is in addition to high land prices due to the scarcity of ownership and add to this the state monopoly of about 90% of the land and poor management of the problem.
Tags : National Center for Development Research average income employees rental value residential areas housing Public Authority for Housing Welfare