Bahrain property transactions jump 36% YoY to $600mn in Q1 2021 – MEP MiddleEast

Bahrain property transactions jump 36% YoY to $600mn in Q1 2021 – MEP MiddleEast

Bahrain’s real estate transactions rose by 36% in Q1 2021 reaching $600mn (BD226mn), according to figures released by Bahrain’s Survey and Land Registration Board.

These figures represent a boost of more than a third compared to Q1 2020, when numbers were just over $440mn (BD166mn).

Just under 3,000 properties were sold across the first three months of this year, a rise of 51% from the first three months of last year’s transactions, which reached just under 2,000.

Listings portal Propertyfinder.bh also reported that the number of sale listings during Q1 2021 have gone up almost 10% over the last quarter. Much of this success can be attributed to strategic swift financial decisions taken by the government to support the economy.

Commenting on the rise in transactions, Ali Al Mudaifa, the executive director for Investment Origination at the Bahrain Economic Development Board, said: “The rise in real estate transactions indicates the growing demand for residential and retail properties in the Kingdom which represents an opportunity for investors and developers who can benefit from Bahrain’s business-friendly regulations such as 100% foreign ownership. In addition to local demand, we witnessed a 21% surge in real estate transaction value from expat buyers including GCC nationals.”

Bahrain’s