New Kuwaiti Taxes to Affect Real Estate Sector

Sunday, 22nd January 2017

Kuwait’s government attempt to impose taxes and increase costs on expats will further affect the real estate sector specifically commercial segment, while the effect on the investment sector will also be great, Trade Arabia reports.

The government has previously issued statements of increasing living fees on expats, which according to Abdel Rahman Al Habib, head of the Real Estate Brokers Association, will lead to a negative impact on the real estate sector.

Another real estate expert in Kuwait also stated that rental values of homes in Kuwait are expected to decline 13% in 2017 as a result of several expats leaving with their families to their home countries, stated  Chairman of Al Shabib Real Estate Group Bader Al Shabib.

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