What the heck is happening to real estate prices in Kuwait? I read on the paper the other day that a small 2,800 sq. m real estate in Salmiya was sold for 77 Million Dinar (and yes you read that whooping figure right) in cash and in full, simply WTH! I can imagine that Salmiya is a high priced area but heck 77 Million Dinar can build a whole 5-star resort with a private beach and everything like those we see in Dubai or Europe. This isn’t everything because I read about other similar deals in other areas of Kuwait. This surely raises a red flag, could it be a money laundry? [link]
Update: I read on the paper that there was a printing mistake, the 77 Million are actually 7.7 Million and that there’s an investigation going on.
I am not a real estate expert but last week I recieved an evaulation report of a 1200 sq 25 floor commerical building( newly finished) in kuwait city next to Al-Raya. and the price was 11 Milion KD. When I compare 77 seems too much!
Wow wow 11 Million is still sky high to me but 77 M is totally insane!
صرح الوزير بانه خطأ مطبعي و انزاد الصفر فيه و احالوا الموظف الي نقل الارقام غلط للتحقيق
عندك خبر جم كان السعر الصحيح؟ شكرا
بس زاد صفر .. يعني ٧ ملايين
money laundry
I hope not..
Don’t know about money laundry but it can be that they are laundering the money.
That’s what I fear most..
77 Million! wow this is such TOO MUCH!
how many years he needs to return his investment!
the seller is the only winner, no matter how famous the area is, 77 Million is stupidly high!
sometime ago i read on one of the daily newspapers, that some lands in Mahbola (facing sea) were on auction, it was around 750 meters, the starting of the auction was at 1.75 Million, yes this is reasonable because it’s facing the sea! but 77Million! no this is insane!
That was my exact reaction when I read about it, 77 Million KD can buy a huge land overseas and build it. My worst fear is that this suspicious deals will make the already crazy prices of real estate in Kuwait even worse, sometimes just merely thinking how would I be able to afford buying a future family house makes me bleak…
Exactly!
mentioning suspicious deals, thinking about it this can be a money laundry!!!
ma bedi a7o6 be themty! allahu a3lam!
anyway, i’m extra extra excited to know what he will build!
let’s wait and see what this buyer will do with this 77M land!!!
Real estate in kuwait is a disaster
i agree, the prices in kuwait are sky high, u can get better places overseas for the same kind of money… even cheaper
y is real estate this expensive here? thats the question that should be asked… if land is scarce, y not move out further and use more of the land? i remember seeing a satellite image of kuwait at night, and it only had light in one area, the rest pitch black