Rent In Kuwait Eats Up 38.20% Of Monthly Income

Kuwait 5th globally and 3rd in Arab world

When you take into account monthly spending such as groceries, transportation, bills, looking after a family as well as treating yourself now and then, the cost of living can really start to add up. A survey conducted by the UK’s website www.money.co.uk revealed that a major chunk of monthly income was devoured by rent for apartments. According to price comparison, people in Kuwait spend 38.20% on rent from their monthly income which is higher than countries such as Ireland, USA, Australia, Canada and the United Kingdom.

The survey which was conducted comparing cost of living (groceries, utilities, transportation and entertainment) with average cost of renting, found that average monthly rent for a 3 bedroom apartment in Kuwait is about 475 KD, and monthly cost for a family of four is around 770 KD, total expense for the month is 1,245 KD.

Hong Kong wipes out more than 50.25% of monthly income, followed by Singapore with 47.08%, Qatar with 43.73% and UAE with 39.85%. Saudi Arabia residents spend 19.07% of their total monthly income on rent which is the lowest in the world followed by Greece who spend 19.73% and Turkey with 20.11%

The countries spending the highest % of essential monthly outgoings on rent

 

The countries spending the lowest % of essential monthly outgoings on rent

 

SOURCE : ARAB TIMES

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