KUWAIT: Citizens are still complaining about the long waiting period for getting a house, which can stretch for as long as 20 years. The government recently increased the housing loan limit from KD 70,000 to KD 100,000. The government also agreed to provide house loans to single Kuwaiti women, under certain conditions, up to the value of KD 70,000. People still do not see this move as a solution to the housing problem.
The price of land is high, and building materials are also expensive. “In Kuwait, financial incentives offered by the government are automatically followed by hikes in the prices of commodities. The increased loan limit may affect the prices of building materials, which shouldn’t be the case because the prices of these materials are determined by the international market. But there is no control on these prices. I think that KD 100,000 is enough to build a prestigious house, but not a huge one. People complain that it’s not enough, as they aim to build a castle or a three-storied building with a basement. People are afraid that their kids won’t get a house, as rents are very high and waiting for a governmentbuilt house is long.
Read more: http://news.kuwaittimes.net/2013/03/31/workers-union-blasts-govt-policies-on-expats-opposition-in-bid-to-regroup-%e2%80%a2-tweeter-jailed-for-two-years/
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