Dubai: the recent increase in the value of genuine residential properties in Kuwait’s high-end spaces has raised many questions, especially as some of the transactions in these spaces have noted a cumulative value of a maximum of 40%, while the maximum of them ranged from 10 to 15%. , reports the Al Rai.
This accumulation of value occurs at a time when all economic sectors are experiencing a recession under the pressure of low liquidity, leading to a tangible weakness in the movement of genuine real estate transactions and proper construction in some areas.
According to the journal, the rate of this accumulation exceeded the rate in the same spaces before the COVID-19 crisis.
Real estate resources said they had monitored an unprecedented accumulation in personal housing costs in high-end spaces in the last period, namely shuwaikh, Abdullah Al-Salem and the suburbs of Nuzha.
An example of such a valuable construction that arouses suspicion is the sale of a complex in Safat Square for approximately 22 million KDs, which is then resold for more than KD 46 million by the end of the last quarter of 2019.
This means that the account recorded a cumulative value of more than one hundred cents per year. The behavior of cash bleach allows them to settle for access to a maximum value and then faint even at loss. Some genuine real estate homes in those regions will see an additional increase of about 20% over the next consistent period. »
Emad Haidar, vice president of the Real Estate Brokers Union and a member of the Department of Trade and Industry Dispute Resolution Committee, revealed that “the committee recently discovered suspected cash laundering with several agents after their books were verified.”
He said the committee had recently transferred a genuine real estate broker to the Department of Combating Money Laundering and Terrorism Financing after discovering that several contracts had been defed from the broker’s e-book and refused to disclose the nature of the transactions in the contracts. Haidar added: “It has been detected during the last era that some agents have been renting their e-books or promoising contracts to them.”
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