‘Palace’ in US equivalent to price of house in Kuwait

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KUWAIT CITY, Sept 25: If you have 300,000 dinars and want to buy a house in Kuwait your chances are good if it is in some remote area of Kuwait far from the capital, but you can never dream of owning house in model areas because the price of real estate in posh areas is calculated in millions, reports Al-Qabas daily. In a simple calculation, the average price per square meter of private housing property in Kuwait was about 1,074 dinars per sq meter at the end of the second quarter of 2022, according to data from the Kuwait Finance House (KFH).

This means a citizen needs about 430,000 dinars to buy a property with an area of 400 square meters. On the other hand, it is unbelievable that with this amount (300,000 dinars) or even a little less than that you can buy a luxurious mansion in some US cities with an area of more than 600 square meters and with attractive views and distinctive specifications. In the United States a house sitting on an area of more than 5,000 square feet (464.5 square meters) is considered a “palace”, according to the opinions of some real estate experts.

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