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Tag Archives: bahrain real estate market

buy real estate in bahrain
08
Feb

State of real estate in Bahrain 2023

Posted on February 8, 2023 in Blog
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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
28
Dec

Find the Best Rental Property in Bahrain

Posted on December 28, 2022 in Blog
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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
30
Nov

Things to Do Before Calling Property Agents in Bahrain

Posted on November 30, 2022 in Blog
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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
10
Aug

Top 5 Reasons Why Real Estate Companies in Bahrain Help you make the Best Investment

Posted on August 10, 2022 in Blog
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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!

bahrain real estate market
25
Mar

3 Top Bahrain Property Market Insights to Help You Invest for a Better Future

Posted on March 25, 2022 in Blog
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With the real estate market booming in Bahrain but not as projected, due to the obvious reasons of the pandemic, the Bahrain property market is seeing a surge in sales of affordable yet big size housing solutions. Whether it is an apartment or a villa, people are looking for spacious properties with less cost. The average drop in luxury villa prices is recorded to be about 1.2% every quarter of 2021.

While you must consider these places and facts that come in handy to get acquainted with Bahrain’s property market, investing in real estate becomes a lot easier.

1) Rise in commercial properties in Bahrain Bay:

The Kingdom of Bahrain has consistently made a significant contribution among the GCC for businesses to build a base here. With the foundation of RERA in 2018, beyond hospitality and tourism, Bahrain has seen a number of real estate investors approaching a variety of industries to begin a wave of revolution. Many successful businesses want to expand their branches in Bahrain due to its lucrative and fair trade policies. Offshore REITs investing companies aim at setting up in Bahrain bay due to its close vicinity to the Bahrain international airport and a host of five star hotels. Bahrain Bay’s strategic location is close to the Bahrain Financial Harbour from the Al Fateh highway and connects King Faisal Highway to the old Manama souk. This makes it ideal for carrying out business related activities smoothly. Bahrain Bay’s architectural significance is that the design of the ripples has been planned by the same American architectural firm who planned the world’s tallest building, Burj Khalifa.

2) High-end vs dated properties:

As there is a lot of surplus in the rental market, Bahrain real estate agents such as Iris Property Management have noticed that only high-end properties are fetching good rental prices. Whereas the dated old properties are not getting adequate rent. The Seef district was originally created as a land reclaimed area in Manama. But due to its strategic location in the commercial center and the heart of the capital of Bahrain, Manama, its residential land, property and rental prices have surpassed all the expectations. Bahrain’s expatriate community is interested in the purchase of properties from the ten freehold areas in Bahrain like Amwaj island, Abraj Al Lulu, Al Juffair, Al Reef Island, Durrat Al Bahrain and Durrat Marina. Those renting out or leasing might want to consider Amwaj Islands, Juffair, Adliya, Seef, and Reef Island.

3) Real Estate Investment in Bahrain yields 6% more than USA and Europe: A lot of investors in the Gulf countries have reported that they have yielded 6% better rental returns than USA and European economies even during the pandemic. The relatively stable economy and the real estate market of Bahrain with Bahraini Government creating policies in the interest of the investors and property owners from time to time has helped Bahrain’s real estate market to bounce back. When it comes to investing into the property market in Bahrain, the right action at the right moment reaps rich dividends. Get in touch with Iris Property Management before it’s too late and begin investing in the Bahrain real estate market today!

rera approved real estate companies in bahrain
22
Mar

5 RERA Approved Real Estate Broker Quick Facts You Must Know

Posted on March 22, 2022 in Blog
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Investing into property whether you are renting or buying is a huge decision. Making sure you know your rights and in order to protect them, RERA (Real Estate Regulatory Authority) has been formed in Bahrain to promote real estate investments in the Kingdom of Bahrain. It was formed on 1st March 2018 to work on the vision of His Royal Highness Prince Salman bin Hamad bin Isa Al Khalifa the Crown Prince and Prime Minister.

Let us go through some of the facts you must know before getting started to venture into real estate in Bahrain.

  1. RERA approved Brokers can only sell property in Bahrain
    It is the duty of the developer of the real estate project to provide correct information about the property to the broker or buyer. This regulation by RERA starting from 2018 has allowed only RERA approved brokers to sell and rent out properties in Bahrain. Even the developers are RERA approved. This has solved many problems in the real estate market and created transparency to attract new buyers.
  2. Properties for sale and rent are regulated by RERA
    RERA registered properties are only sold or rented out legally in the Kingdom of Bahrain. All the RERA rules and regulations apply to all the properties in Bahrain for sale or rent whether freehold or leasehold. This helps homeowners, property owners and tenants to protect their rights and avoid any conflict. Work with one of the best RERA approved real estate companies in Bahrain. Get in touch with Iris Property Management today!
  3. Brokers are not valuers, RERA has pricing strategy
    As per Bahrain Valuation Standards (BVS) 2019, a RERA certified valuer can assess the value of the property in question. Brokers do not have the authority to conduct a real estate valuation in Bahrain. The RERA conducts training for certification of real estate valuers. This promotes greater transparency and accuracy of real estate valuation in Bahrain creating greater transparency, efficiency, and consistency in the market.
  4. Brokers are a bridge between builder and buyer
    Negotiating the best prices between the developer or builder and the buyer is a win-win situation for both the parties. Getting people to buy properties that they love at the prices that they can afford is the RERA approved real estate broker’s work. They lead a team of real estate agents to close the deal. A broker keeps the track of all the properties sold or rented out and reports to RERA.
  5. RERA protects the rights of citizens and investors in Bahrain
    As 55% population in Bahrain is of expatriates, there was a need to regulate and make the real estate market in Bahrain compatible with the international real estate standards. This led to the foundation of RERA (Real Estate Regulatory Authority) in Bahrain to protect the rights of both Bahrain citizens and international investors in Bahrain. Since the inception of RERA, the process of acquiring or selling real estate properties in Bahrain has become more transparent creating a boom in the market.

Get in touch with Iris Property Management to find a suitable property in Bahrain for home or business.

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