Real estate transaction volumes ‘recovering’ in Bahrain

Real estate transaction volumes ‘recovering’ in Bahrain

Bahrain - Real estate transaction volumes in Bahrain continue to recover, finds a new report by CBRE, attributing the turnaround to stronger economic growth projections.

The Bahrain Real Estate Market Review Q2 2022, a latest quarterly report by the commercial real estate services and investment firm, notes a marginal increase in the average quoted mid- to high-end apartment rents between Q1 and Q2-2022, with rents increasing by 1.64 per cent quarter-on-quarter (QoQ); a continuation of the upward trajectory in rents seen since Q1 2022.

Meanwhile, average apartment sales rates fell 3.64pc QoQ during the same period, with declines seen in the Capital, Northern, and Southern Governorates.

Freehold apartment supply continues to increase, with an increase of 12.2pc year-on-year (YoY) in total supply anticipated at the end of 2022.

The large increase in supply is attributable to the projected completion of key developments, including the serviced residences at the Address Beach Resort in Marassi Al Bahrain.

Following CBRE’s Retail Occupier Survey for H1 2022, the firm found that average operational occupancy in sample set of malls across Bahrain fell marginally in the first six months of the year, at an average of 3.7pc lower than H2 2021.

There were, however, a handful of malls that recorded an