Abdul Hussain Khudur
Era Real Estate
Bahrain’s real estate market has outperformed many major investment goals this year with the national pandemic response set to a quick recovery across various sectors. As Bahrain offers the best properties at budget rates rather than exaggerated prices, now there are a lot of probabilities in the real estate industry. A strong return to pre-pandemic levels of real estate has been predicted in Bahrain as the island nation has reopened access to King Fahd Causeway. This will channel Saudi citizens to travel into the country by road and offer a huge financial boost to the real estate industry. Bahrain is often an option for Saudi citizens to buy second homes or just to diversify their investment portfolio given the tremendous steps the island nation has taken in order to attract investors from all over the world with its unique and creative initiatives in bringing tourists and working foreigners into the country.
Bahrain has undergone significant growth over the past few years, particularly in the degree of foreign investment in the country. The law regarding nonBahraini property investment and development is quite fluid and the type of investment that the kingdom deems desirable over time. The result of the changes has shown an uptick and as more government incentives come into fruition to stimulate the economy, this will affect the real estate market.
Things Everyone Should Know About Real Estate in Bahrain
According to estimates, the global real estate industry is booming and will exceed 160 billion dollars in 2021! The real estate industry is rejuvenating after continuous breakdowns.
The surveys are showing that the second half of 2020 was the lowest period in history for real estate sales because of the lockdown in Bahrain, but since the easing in restrictions, secondary residential real estate sales have been on the rise peaking highest in December.
Another reason behind the growth is the change in situation the Covid-19 pandemic has caused for many Bahraini citizens. Working professionals are working from home and have their children learning from home, which results in an increase in demand for a larger space.
The real estate industry is such a vast area. Buying or renting property in Bahrain is not a trivial process. Customers should very well observe the pros and cons of a property they are going to buy or rent. But there are a few developers whose vision is selling quality in whatever circumstance; from those, anyone is able to buy a property without too much hassle.
This article was published as part of the sixth edition of Property Finder Bahrain’s Trends Report.