The increase in expats layoff caused an increase in number of vacant apartments in Kuwait resulting in property sales drop across the country. According to local English daily Kuwait Times, the number of uninhabited rental investment apartments in Kuwait reached around 50,000 by the end of the first half of this year.

According to report, the residential property sales experienced a significant downturn, reaching KD 363 million, the lowest levels since the second quarter of 2020. This is primarily due to a reduction in the number of property transactions. The expatriate population continues to face challenges that limit their spending and even force some to leave. Additionally, restrictions on granting visit visas to expatriates have contributed to a surge in vacant apartments, with their numbers exceeding, the daily added.

During the first half of this year, there was an unprecedented annual decline in the growth rates of the expatriate population. Growth dropped from 5 percent over the past five years to approximately 1.8% in the previous year.