Houses for Sale in Wafra Residential (11 Ads)

It is a modern residential area, and it was named so because of its proximity to the Wafra farms area. There are 3 residential blocks in Wafra Residential, and the majority of its residents are Kuwaiti citizens (owners or renters) who live in houses and villas.

If you are looking for houses for sale in Wafra Residential, then you will find new ads on this page, and you can also expand your search to include houses offered for sale in all areas of Kuwait through Boshamlan real estate finder website or App, where you can communicate directly with advertisers through WhatsApp or call and discuss details of the house offered for sale in the ad.

House or villa prices in Wafra Residential vary according to several factors such as the location of the house, its front space, its proximity to services such as the association or branch, and the entrances and exits of the area. There are expectations that house and real estate prices in Wafra Residential will continue to rise in the coming years unless radical changes occur and the causes of the problem are addressed, including:

• The supply is still less than the demand, as there are many people looking in the real estate market for purchase, in return for the scarcity of lands in Kuwait and the lack of new lands
• The housing problem in Kuwait, the accumulation of housing requests, and the continued obstacles to building cities and new housing areas, such as the documentary cycle, infrastructure, electricity and water provision, schools and other public services.
• The lack of advanced financing facilities such as the mortgage law.
• The entry of a large segment of investors and speculators into private residential areas, dividing the house into apartments, and offering them for rent with high returns in exchange for cheap house prices compared to investment buildings.
• Declining returns on bank deposits in the past years, and this encouraged some to withdraw their money from banks and invest it in the real estate market.
• The activity of speculators who buy houses with the aim of reselling them shortly. And those who see residential real estate a better opportunity to achieve returns on capital compared to investment real estate, which has suffered recently.
• Low supply versus high demand and liquidity.
• There are not many other investment opportunities in Kuwait
• Not applying the tax law to those who own more than one house

The following are the requirements and procedures for buying and transferring house ownership in Kuwait:

• Conclude the preliminary sale agreement and ensure that all terms and conditions are clear, including the eviction condition and its duration.
• Existence of the original document
• The presence of the civil ID of the seller and the buyer.
• Rental contract, if applicable.
• An account in a local bank.
• A copy of the certified cheque through which the value of the sold property will be paid, or a bank transfer.
• Issuing an acceptance certificate from the Kuwait Municipality, and it is considered an identity for each property, whether it is (residential, investment, or commercial). Caution must be taken as some property owners face difficulties in issuing a description certificate.
• In the event that the sale is completed by a real estate broker, the broker will receive a commission of 1% and one percent of the sale value, and it will be paid equally between the seller and the buyer, unless otherwise agreed upon.
• Sale transactions can be completed at the Real Estate Registration Department in the Ministries Complex of Al-Ahmadi Governorate