A new study showed that rents devour the bulk of the monthly expenses per capita in Kuwait, ranking third in the Arab world and fifth globally, a higher percentage than countries such as Ireland, America, Australia, Canada and the United Kingdom.
According to UK price comparison website money.co.uk, people in Kuwait spend 38.20 percent of their monthly expenses on rent.
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The survey found that the average monthly rent for a three-bedroom apartment in Kuwait costs 1,161,000 pounds (about 476 dinars), while the monthly cost of caring for a family of four is 1,878 pounds (about 770 dinars), while the total expenses are Monthly 3039 pounds (about 1246 dinars).
The research, which draws information from the cost-of-living database Numbeo, compares the average cost of renting a three-bedroom apartment in more than 50 global destinations with other expenses for a family of four, including food shopping, utilities, transportation and entertainment.
In Hong Kong, rent devours more than half of the total monthly expenses (50.25%), which is the highest in the world, followed by Singapore with 47.08 percent, then Qatar with 43.73%, and the UAE fourth with 39.85 percent.
In contrast, Saudi residents spend 19.07 percent of their total monthly expenses on rent, which is the lowest percentage in the world, followed by Greek residents who spend 19.73 percent on rent, and Turks come in third place with 20.11 percent.
As for the countries in which the family spends the highest percentage of its income on rent, Azerbaijan comes first with 71.49 percent, followed by Hong Kong with 65.80 percent, and Malta with 58.83 percent. As for the family in Kuwait, it spends 42.89 percent of its income on rent, ranking 14th globally and second in the Arab world after Bahrain.
With regard to the most expensive countries for renting a 3-room apartment, Kuwait ranked 14th globally, after Qatar and the UAE at the Arab level.