Nationwide, more than 143,000 residential properties remain empty, showing a small uptick compared to last year's statistics.
In the bustling heart of the Arabian Gulf, Kuwait's diverse and dynamic real estate sector continues to evolve. Here's a glimpse into the current state of Kuwait's various governorates, based on available data.
Kuwait's Ahmadi Governorate stands out as the hub for villas, with an impressive 34,270 out of a total of 153,004 villas across the country. Meanwhile, the Capital Governorate takes the lead in shops, boasting 55,963 out of 161,230, and commercial buildings, with 2,019 out of a national total of 5,038.
Hawalli Governorate, historically, has been a frontrunner in residential buildings, commercial complexes, and apartments. It once accounted for 5,317 residential buildings, 223 commercial complexes, and a staggering 146,165 apartments out of 357,854 nationwide.
Mubarak Al-Kabeer Governorate currently has the most buildings under construction, with 421 out of 877 nationwide. This indicates a significant ongoing development in the region.
However, a concerning vacancy rate has been reported across Kuwait, with over 143,000 vacant residential units, accounting for 18.04% of the total. The Capital Governorate leads in palaces vacancies, with 29 units, while Ahmadi Governorate tops the villa vacancy list.
The Public Authority for Housing & Welfare (PAHW) is addressing the housing backlog by developing new residential cities, such as Al-Khiran, Nawaf Al-Ahmad, and Al-Sabriyah.
The largest numbers of homes in Kuwait are found in Ahmadi (36,068) and Farwaniya (32,276). Interestingly, Jahra Governorate has the fewest apartments, with 7,502, but the most eastern-style houses, with 10,447.
Seventy percent of the unsuitable buildings are located in the Capital Governorate, while Jahra Governorate has the least commercial buildings. The Capital Governorate also houses the most hotels, with 38 out of 100 nationwide.
Farwaniya Governorate follows closely behind the Capital in commercial buildings, with 1,267, and eastern-style houses, with 2,463.
It's important to note that this data represents a snapshot of the current real estate landscape in Kuwait. For more detailed statistics on each governorate, official sources or recent reports from Kuwait's Ministry of Public Works or other relevant authorities would be needed.
Investors looking at the Kuwaiti real estate market might find opportunities in the Ahmadi Governorate, which houses the majority of villas, with over 34,000 out of 153,004 across the country. On the other hand, those interested in investing in shops or commercial buildings could consider the Capital Governorate, which leads in both categories, with 55,963 shops and 2,019 commercial buildings. However, it's crucial to be mindful of the concerning vacancy rate in the housing market, with over 143,000 vacant residential units, particularly in the Ahmadi and Capital Governorates.
