Real estate market building back to pre-pandemic growth levels: Bahrain

Real estate market building back to pre-pandemic growth levels: Bahrain

Bahrain’s real estate market is building back to pre-pandemic growth levels, with a new report showing a rise in both transaction volume and property valuation.

Compiled by ASK Real Estate, a local real estate services provider, the report notes that total real estate transactions volume in the kingdom at the end of the third quarter this year stood at 15,943, nearly seven per cent higher than 14,921 transactions recorded in the same period last year.

Citing data from the Survey and Land Registration Bureau (SLRB), the report notes that the total value of transactions for the first nine months of the year was BD799.2 million, whereas it was BD1.04 billion for the whole of last year.

According to the report the real estate sector is expecting new supplies of residential and commercial real estate units. However, rental rates are expected to remain stable in prime areas as they provide good investments yields at 8-10pc.

Karim Yazji, the chief executive at ASK Real Estate said, “The real estate market in Bahrain is continuing to show great prospects as it offers many attractive investment opportunities. Despite the difficult times it witnessed during the pandemic, statistics shows that the real estate sector has improved remarkably and it