IRIS Property Management W.L.L

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bahrain property market

The Economic Vision 2030 initiated by the government in the late 2000s was the boost that Bahrain needed. It expanded Bahrain’s economy in terms of resilience, diversity, and competition globally.

Tourism, banking, logistics, and manufacturing were a few of the strategic industries targeted by the plan because of their impact on the property market. The construction of large-scale public works like the Bahrain Bay Development and the Dilmunia Health Island has now resulted in thriving new neighborhoods and increased interest in real estate.

With its economy boosting a large number of businesses came and opened avenues for their businesses. After the pandemic, real estate investments in Bahrain surged in value.

Prices for luxury apartments rose by 5% Bahrain’s real estate sector showed a strong comeback, boosting the economy even after the pandemic. Presently, the Prices for luxury real estate have gone up high. High-quality assets now are the norm.

Bahrain’s primary wealth comes from oil and petroleum. The global oil demand keeps rising as a result there is an endless cash flow.

The luxury real estate sector is estimated to be valued at over a trillion dollars worldwide. We promise to explain everything as soon as possible.

Rents have been in demand since individuals discovered the cost of living to be 17% less than in the United States. The cost of living here is even cheaper than in other Gulf countries’ megalopolises. This means you will reap profits even in a metropolitan area in Bahrain

Villa developments remained popular in the residential sector, with mid-range home prices increasing by 5.2%. However, demand for premium developments has been hampered by the higher cost of borrowing, resulting in a quarterly decline of 1.3% in the value of luxury apartments. As end-users continued to tighten their belts, the demand for moderately priced and inexpensive villas remained robust in the rental market. In the office market, demand was robust for both middle- and upper-tier buildings, and rents rose by 15% annually.

The rental industry has generally tracked the sales market in its upswing, with villa rental prices increasing by 4.5% year over year, reaching an average of BHD 1,139 per month. The number of new company registrations increased by 35.4% annually. The economy expanded more as a result of this.

It’s becoming increasingly apparent that the island nation of Bahrain is prepared to create its future through a commitment to environmentally responsible and technologically advanced real estate development. Its laws favor the landlord and the tenant Rent increases after every 2 years according to the lease law in Bahrain. It can go up to 5% for renting homes and 7% for homes for small and large businesses. Any correspondence regarding rent must be made at least three months in advance. This doesn’t make it burdensome for the tenant.

Cost-benefit analysis calculation: No portion of salary will be taxed away only the yearly tax obligation will be the 1% that goes towards social insurance. Thus they end up saving a lot of money because of this.

There are parts of Bahrain where one is allowed to own land. This adds to the leverage. Freehold property worth at least BHD 50,000 is required for a non-Bahraini to qualify for a residence permit through personal sponsorship.

Iris property management in Bahrain has more than 2000 satisfied clients and over 20 years of experience. Visit the website to know more!

unfurnished flat for rent in bahrain

Fortune moves both ways with an unfurnished apartment for rent in Bahrain available at Iris property management. Want to know how? Let’s step at home!

Perks of an unfurnished apartment for rent in Bahrain for the tenants

  • Lower Rent: Unfurnished apartments typically have lower rental costs than furnished flats, which can save tenants money in the long run.
  • Personalization: By renting an unfurnished apartment, tenants have the freedom to personalize the space according to their own tastes and needs, which can create a sense of ownership and comfort.
  • Flexibility: Unfurnished flats allow tenants to choose their own furniture and appliances, giving them the flexibility to select items that suit their lifestyle and budget. These furnished designs can be revamped anytime. Landlords don’t hold you accountable for their furniture as it is unfurnished.
  • Lower Utility Costs: Unfurnished flats often come with lower utility costs as tenants can choose their own energy-efficient appliances and lighting options.

Perks of an unfurnished flat for the landlords

  • Lower Initial Costs: Renting out an unfurnished flat allows landlords to avoid the upfront costs of purchasing furniture, appliances, and other furnishings, reducing their initial investment.
  • Long-Term Rental Stability: Unfurnished flats are typically rented out for longer periods, as tenants are more likely to settle in and establish a sense of home.
  • Reduced Maintenance: Furnished apartment require regular maintenance and upkeep, including cleaning, repairs, and replacement of furniture and appliances. In contrast, an unfurnished flat can be less demanding in terms of ongoing maintenance, saving landlords time and effort.

Best deals for tenants at Iris

IRIS Property Management is leading the way in projecting trends and giving a reality check. Property management, facility management, property maintenance, sales and leasing, and HOA management are just some of the many services offered by Iris Properties to assist clients in making the right decision.

Invention without bounds

For a truly otherworldly stay, we renovate, re-invent, and manage your home. All of our rentals come with central air conditioning, fiber optic internet, a fully equipped kitchen designed to your specifications, and regular maintenance. You have the option to choose between furnished and unfurnished flats.

High-end and location-specific housing options for the customer

An International School, hospitals, a shopping and dining hub, and the airport are all within a five-minute drive of a family-friendly apartment complex.

Elegance

Both an indoor and outdoor pool, as well as private parking, round-the-clock security, a lobby, and CCTV, are accessible. A movie theater, sauna, steam room, games room, playground, basketball court, barbecue area, squash room, 24-hour convenience store, and coffee shop are all available.

Landlord advantages

  • Find tenants in a quick time: We are pleased to report that our selected projects are 90–100% occupied thanks to our successful multi-national leasing team.
  • Real estate experts’ guidance: Our property agent is at your aid anytime anywhere. Our marketing strategy begins with a thorough assessment of the structure and each unit.
  • Real time update on current market rates: Stand out from the competition and price it an unbeatable resale value. We can provide advice regarding the market rates that can be achieve.
  • Legal costs are covered by us
  • Smooth transactions of payments: Secured, safe and speedy transactions.

What’s more?

  • Latest updates in the real estate market sector
  • Promoted advertising via local & foreign online marketing portals:
  • Local and foreign advertising through banners, sponsors, and featured listings
  • Press coverage in print media
  • Lead reports, ROI, and market research delivered weekly and monthly
  • Promotions for business clients
  • Background checks on all tenants’ safety
  • A solid local presence maximizing exposure with outside agencies through sponsored event

Are you too looking for such an advantage? Then contact Iris Property Management today!

buy real estate in bahrain

Bahrain is a beautiful country that boasts its luxurious real estate sector. New policies, government support, foreign investment, and interest from nearby countries have pushed this sector. It has significantly risen after the pandemic and affected almost every other industry.

However, the current situation is far from that and shows a rising story. There are so many factors to this and as an experienced real estate company Bahrain, we can surely suggest you buy real estate in Bahrain. It is most likely to get you great returns.

Read on to know more.

  1. Government policies: Bahrain’s government is a pro-real estate. They are coming up with a lot of policies, and changes in RERA and offering schemes like Golden Visa wherein ex-pats are promoted to invest in real estate.  The policies are developer friendly as well. In terms of taxes too, this country is tax-free. So overall it’s a good sign for both the suppliers and the ones seeking demand.
  • Foreign investment: Interestingly the surrounding GCC and other countries are showing great interest in real estate Bahrain. Liberalization in foreign ownership of real estate projects further pushes the real estate sector towards growth. The golden visa scheme is another promoter in this domain.
  • Economy: The GDP of Bahrain is on the rise. Various reports and statisticians present the best picture ahead. The real estate sector is the major contributing sector to it.
  • Rental yield: If one were to believe the reports, the rental income from real estate in Bahrain yields around 7% income. So investing in any real estate project in Bahrain turns out to be a profitable business. Zero taxation on rental and property is another interesting factor that is an enticing factor.
  • Developmental programs: The stakeholders that are a part of this real estate economy continue to bring and discuss better initiatives. These initiatives are quite important for helping the real estate sector to grow. There are roundtables and investor initiatives happening to lobby for better real estate development and offerings.  
  • Tourism sector:  The tourism sector in Bahrain is growing more rapidly than expected. It is more so after the pandemic hit. Everyone is trying to explore newer and less commonly known places. Bahrain turns out to be a perfect place with varied offerings from entertainment, luxury, shopping, and relaxation. It is attracting investors and real estate developers to cater to the diverse interests of people.

IRIS Property Management has always been on the top when it comes to projecting trends and giving a reality check of the realty. Our core services include property management, facility management, property maintenance, sales and leasing, and homeowner’s association management.

We continuously strive to help our wide range of customers to make the best choice. Decades of experience in real estate Bahrain have got us a renowned name. We would suggest consulting with our team of experts who can guide you in choosing and managing your real estate in Bahrain.

rental property Bahrain

Bahrain is also known as the pearl of the Arabian Peninsula, and rightly so. The country is beautiful and has some of the most iconic locations in the world, and they have tremendous property for citizens of the country and expats alike. 

If you are searching for a rental property in Bahrain, consider using the IRIS property management firm. We at IRIS property Management Company can provide you with a wide range of real estate services and packages that you find helpful.   

Why IRIS property management?

IRIS property management specializes in real estate, property management, and development companies. We have been in this market for more than 15 years, and the firm provides exceptional buying, selling, managing, and renting services for apartments and commercial real estate in Bahrain.

Some of our primary services include:

  • Extensive property and facilities management experience.
  • A wide-ranging leasing and sales experience.
  • A senior expert team of key staff.
  • Professional in-house support & technical team.

With the help of our professional in-house support & technical team, we want to offer you transparency in real estate services. We want to serve you with quality & superior services for a cost-effective price.

  • Property management
  • Facility management
  • Property maintenance
  • Sales & leasing
  • Homeowners’ association management

Some of the important real estate properties that we can help you with include:

Providence residence: It is a 27-storey luxury apartment located in Juffair. The apartment has one-, two-, and three-bedroom sea view apartments.

Alyal building: This is a luxurious 24-storey residential building with 130 fully furnished premium apartments with one, two, and three bedrooms with a panoramic view of the sea and the city in the Seef district.

Orchid business center: This is a unique 16-storey office building that is the only commercial property in Bahrain offering amenities, including a gym.

We provide you with the best rental deals in Bahrain.

Some advantages of using Iris property management Bahrain firm are as follows:

  • Property management services find you tenants: Our property management firm helps you to find tenants for your building easily. Our professional in-house team is trained and skilled in real estate.
  • Fill rental properties faster: Since we are trained and experienced, the real estate agents can find local rental buildings according to your needs, preference, and budget with ease.
  • Make your property more competitive: With our help, you can make your property have a better resale value in the market.
  • Property managers make the paperwork easy: All the paperwork is done by us, and you just have to sign the dotted papers once the deal is done. We know real estate lawyers, and have a partnership with them for all the local legal document work.
  • You don’t have to pay the legal costs: You do not have to hire or pay any lawyer’s legal fees because it is already taken care of by us at the property management firm.
  • Rent collection and expense payments made easy: Rent collection is made easy with the help of the firm. We can help you with rent issues if they arise. You do not have to worry about the rentals because we will be done in a timely manner.

As you can see, hiring a reputed real estate firm like us, IRIS property management enables you to choose from a wide range of properties in Bahrain. So, why not contact us about whether you want to buy, sell, or get the best rental deals in Juffair in this charming country.

property agents in Bahrain

If you want to hire property agents in Bahrain, you should be ready to show your house within a few weeks and have taken care of all the important financial matters. This requires a while, and depending on how your home is set up (and your financial situation), it can take a long time. First impressions are crucial in the property world Bahrain, so avoid making a lousy market entry. Before deciding on Bahrain real estate agents, you should go through the following stages.

Get a Mortgage Pre-Approval from Property Agents in Bahrain

Before you hire a real estate agent, you should first look into your financing options. Your ability to purchase a home depends on various factors, including the length, cost, and rate of return of your mortgage.

Also, remember that being pre-approved for a mortgage is different from being pre-qualified for one. Even though debts, income, and assets are looked at in both stages, only a formal mortgage application is needed for pre-approval.

Market Research

The price range of residences you should look into will depend on the mortgage for which you have been pre-approved. However, if you are also selling, you must know the local market for similar properties. Remember that even if you can research real estate advertisements in print and online, all you will learn are the asking prices. By asking a real estate agent, you may find out how long homes have been on the marketplace, if there have been any price cuts, and most significantly, the final selling prices.

Even though market research is crucial, wait a while before falling in love with any particular property. When you’re ready to buy, there’s a reasonable risk the property world Bahrain won’t be available, especially if you have to sell your property beforehand. Subject-to-sale offers, or “yes, but…” offers as they are known in the real estate business, are less likely to be accepted by a seller than offers with sound financials.

Create an Impression

Most of us have watched enough episodes of “Trading Spaces” to be familiar with house staging. It would help if you also made a good impression on your real estate agent. Did you know that? When you have your house ready for an open house before an agent comes by, the agent will be able to see your house’s full potential and will be able to sell the house more effectively.

Unexpectedly, a clean bathroom will go a long way when selling your house. A neat place conveys pride of ownership and suggests that it has been well-maintained. For instance, the design of your entrance matters as much as any other interior feature. Ensure that your door, mat, mailbox, and trim are immaculate. While you might not notice the dust and insects in your daily life, observant home buyers might be turned off by your poor housekeeping. Dust and insects love light shades and fixtures.

Conclusion

The above points are to be remembered before seeking Bahrain real estate agents. You can connect with IRIS for all your real estate-related queries. IRIS was created 15 years ago with a dedication to professionalism and client service. We provide unmatched real estate services for purchasing, selling, renting, and maintaining residences and commercial properties in Bahrain.

Top real estate companies in Bahrain

There are many foreign investors who are choosing to invest in Bahrain over Dubai for several reasons and real estate companies in Bahrain are more than excited to offer you with the best commercial real estate investment opportunities. The pool of skilled talent available in the Kingdom of Bahrain is now attracting foreign investors who trust Bahrain over Dubai because of the fact that the cost of living in Bahrain is a fraction of the price to Dubai. Starting a venture in Bahrain is easier as an expatriate as the laws are favorable alongside the commercial real estate. Not just so, but hiring talent is cheaper in Bahrain than Dubai as well as residing at your own home is also possible with little money than Dubai. Many top industry leaders in the world have already set a foot and made their mark in Bahrain due to its business favorable climate.

Discover why the top 5 real estate companies in Bahrain are ready to help you choose the perfect property to get started with business in Bahrain.

1) Real estate accounts for 6% of Bahrain’s GDP rising with a rate of 2.3% year on year
While real estate is not just an appreciating asset with great returns but an income generating asset class as well. Bahrain’s real estate boom is apparent from the fact that the restrictions have been lifted post COVID and there is a major recovery seen in the tourism sector. The appreciation expected in the real estate sector is 8-10% as these are the numbers from the past.

2) Retail, F&B and community sectors are booming with market being undervalued in 2022
Major food chains across the world want to start their business in Bahrain as the market is progressive. Buying real estate during the time it is undervalued helps long term capital gains and build assets. Similarly, the retail and community sectors have seen an increased buying with a dip in Q2 2021. This is helping investors to take the opportunity for increased real estate buying as well as make the most out of the market conditions.

3) Bahrain offers Residency by Investment in real estate
If you own a property worth 200,000 BHD, you can avail a Golden Visa allowing you a residency by investment in Bahrain. This golden residency is available for all nationalities around the world without any exception. This golden opportunity allows you to bring in family members including father or mother, wife and children, as well as grandchildren while working in Bahrain. Apart from this, for 70000 BHD property owners, residency by investment will apply for a span of 10 years with less privileges than a golden visa.

4) For Expatriates, cheap real estate in Bahrain accounts for tax free residential permit
Although the expenses of utilities have a major price difference for natives and expatriates, cheap real estate for expats in Bahrain is the gateway to a tax free residential permit. Which is one of the reasons why the top real estate companies in Bahrain like Iris Property Management highly recommend purchasing own property in Bahrain for commercial as well as residential use. The culture of Bahrain is relaxed for the expatriate community here providing freedom to carry out trade and business effortlessly.

5) Today is the right day
When it comes to the present market conditions in the real estate sector, the increased buying from expatriates across the country has led to a weak property market. This is the ideal condition for property purchase. When the supply of real estate will diminish, the property market will be at an all-time high, leading to scarcity of properties to purchase. Connect with Iris Property Management for your prosperous real estate investment at great prices.

Final Thoughts:
Discover the real reasons why everyone is crazy about investing in real estate in Bahrain over Dubai. Some of the reasons include Bahrain’s real estate market share in GDP is rising, commercial real estate market is undervalued means the right time for buying, golden visa perks for residency in Bahrain, cheap real estate perks for tax free residency in Bahrain and the right moment to invest in Bahrain’s real estate market. Connect with Iris Property Management to start investing in real estate in Bahrain today!

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