Bahrain’s Real Estate Market
The real estate market in Bahrain has experienced a lot of changes over the past year. Also, prices across the Governorates in Bahrain have experienced fluctuations. To know more about these fluctuations, we have to look at a combination of issues. The geopolitical nature of the region has affected the real estate market and while search volumes have grown, also the conversions remain flat, which impact prices that have been achieved in the market.
The most popular locations in Bahrain continue to be consistent, as Juffair and Saar are still holding the top spots in the country when it comes to both residential sale and rental properties. Data shows that the searches are increasing for a number of new and upcoming areas such as Al Hidd and Mahooz.
Apartments for rent
Some areas still remain home to the luxurious flats for rent in Bahrain such as Juffair, Reef Island, and Amwaj Island, while others like Sanabis, and Seef are known for their affordable flats which can be suitable for renters’ budget. However, affordable flats can easily be found in all neighbourhoods in the country, including Juffair and Amwaj Island.
The Northern and Southern have seen an increase in average prices for flats, with a 32.9% increase in the Southern Governorate, as the affordable housing and properties are becoming more appealing.
But in other Governorates where there is a mix between affordable and higher priced properties, the prices deviate slightly from the previous year. Also, in some cities, Bahrain witnessed a slight decrease, in Adliya and Amwaj Islands, while, Mahooz, has seen a slight increase in asking price.
Villas for rent
Saar and Hamala came on the top of searching for villas by highest price across all areas, where they have both villas in compounds and stand-alone homes.
The market has witnessed an increase in the number of affordable villas, in areas such as Budaiya. Villas for rent have seen asking prices reduced in the majority of areas. The Capital Governorate saw asking prices reduced by 16%, Al Muharraq Governorate reduced by 11%, and Saar saw a reduction of 12%, while Juffair villa rentals were affected as well.
Apartments for sale
One of the newest areas that offer a number of luxurious flats for sale in Bahrain is Bahrain Bay. It houses some of the most high-end homes on the market. Reef Island and Saar areas are also a great place where you can find high-end properties available for purchase.
For those looking for investment, Juffair offers a number of flat units for sale, as well as Hoora. It is worth mentioning, Juffair and Seef recorded a 6% increase in the average price per square metre since last year.
Prices for flats for sale in Bahrain Bay increased by 3%, while it increased in Busaiteen by 4%. Also, Hoora has recorded an increase of 6%, due to the increase in the number of free-hold projects in the area.
Villas for sale
Hamala, Saar, and Amwaj Island are just some areas where many homes can be found. On the other hand, Barbar and Bu Quwah offer villas that are more budget-friendly and more affordable for investors who are looking for more affordable prices.
Also, prices for villas for sale have declined across all the governorates and increases only in a few cities.
Al Muharraq has witnessed a decrease of 6%, while the Southern Governorate has recorded a decrease of 2.5%.
Janabiyah and Amwaj Islands saw a small reduction of 2%. Saar, Durrat Al Bahrain and Bu Quwah have maintained their average price, while the only increase was recorded for Tubli 6% in the average price per sqm.