Monday, November 12, 2007

Rising rents

recently we were informed by the building haris that rents in our building will be increased by kd 35!
rents all across kuwait have gone up for residential apartments. but has this increase really been because of 'market forces' and 'demand'?
the way i look at it, the number of people in kuwait has increased...albeit a little bit. but i just get a feeling that these rent increases have been just because the land lord wanted more money.
it's not as if the buildings are maintained and kept in excellent condition, so it should not matter even if maintenance costs have gone up. nor does the land lord pay for electricity or water, so no bother for him there either.
the main reason why people are paying such high rent is mainly because they have to, and not because they want to (which would not be the case had this increase in rents been due to real market forces).
there are loads of buildings that are there lying empty, so there is no problem of supply. since the last six months there has been a building on mugheera street that is going for rent - kd 350 for a 2 bedroom apartment !
i am searching for some global data to conduct a comparison of rental rates - i have a hunch that one might be able to rent a similar apartment in some beautiful european country at the same rate.

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Wednesday, November 07, 2007

The two sides...

Sitting in my office, I have a view of the sea on my right, and Kuwait City and Kuwait on the left. Funnily, I noticed yet again that above the city skyline, there is a thick smoky blackish brownish cloud - everyday. It is not there over the sea.
I am sure it is a result of pollution.
SUVs anyone? We should focus more on using fuel efficient cars like the Echo or any other small insignificant sized that I can buy me self a Hummer and drive around free of guilt...


Monday, November 05, 2007


They are playing the sirens now and we can barely hear them in our office with the windows closed.
Guess we will be the last ones to know of any imminent emergency...


Only in Kuwait...

on my way to office this morning, i saw a lady driving her mercedez on the highway - smoking a cigarette with one hand, and talking over the phone with the other - look ma, no hands!