By Courtney Trenwith
The country would become the third Gulf gov’t to introduce such a measure, following Dubai and Qatar
Kuwaiti lawmakers are considering implementing a rental cap, Arabic daily Al Anbaa has reported.
It would be the third Gulf government to limit rental increases, following Dubai and Qatar.
Details of the Kuwaiti plan have not yet been released but reports suggest the maximum increase would be set at inflation to “improve living standards”.
Kuwaiti rents are known to be high amid a housing shortage due to the number of foreign workers significantly increasing in recent years without a similar number of new homes being built.
According to local media, it is illegal to increase rents within five years of a tenant moving in but many renters were unaware of the law and agree to pay increased prices.For all the latest real estate news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.