KuwaitCapital: Kuwait City
Language(s): Arabic
Population: 2,851,000
Total Area: 17,818 km²
GDP (in million USD): 117,316

 

This tiny, but wealthy country is on the northwestern of the Persian Gulf, bordered by Saudi Arabia to the south, Iran to the east and by Iraq in the north. Kuwait is one of the richest countries in the Middle East

There is an undersupply of residential property in Kuwait. The most sought-after locations for expats are Salmiya, Hawalli, Salwa, and Jabriya. As you get closer to the city and the sea, properties become more expensive. Apartments tend to be concentrated outside the city, and directly on the coastal strip; villas are more popular in the city.

Many industry players have called for expatriates to be permitted to own real estate, thus increasing the flow of investment. The absence of such a law has prevented Kuwait from retaining a higher percentage of the annual earnings of resident expatriates, now mostly remitted outside the country.

Despite the fact that foreigners can act as mortgagees under Kuwaiti law, the security holder or mortgagee must be a Kuwaiti citizen.

 

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