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bahrain real estate agents

The Bahrain real estate market is booming. The flourishing economy has led to an influx of investors from around the globe. This has naturally contributed to a growing population and an increase in the demand for residential and commercial spaces. As an investor, it is important to select the right real estate agent before investing in the Bahrain property market. Selecting a real estate agent without proper groundwork can lead to wrong investments.

Here’s how you can select the right real estate agent in Bahrain

Compile a database 

It would be a good practice to compile a database of all real estate agents in Bahrain. The Bahrain real estate market is mammoth. The presence of innumerable real estate agents makes it difficult to select the right one that will deliver all your requirements. Compiling a database can give you an idea of the size of the property market in Bahrain. 

Check the agency credentials 

Confirming the credentials of the real estate agency will give you the surety that you are dealing with a trusted name in the industry. Ask for the agency licenses, permits and other legal documents before you select your real estate agent. 

Proactive real estate agent

Make certain that the real estate agent you select is proactive and responds to your queries on time. Investing in residential or commercial property requires large investments and often involves hard-earned life savings. So, it is pertinent that your real estate agent is aware of your investment and remains in communication throughout. A good real estate agent will keep their clients informed of all the developments in the transaction. 

Do not hesitate to ask questions

While selecting your Bahrain real estate agent feel free to ask questions. Do not hesitate. After all, it’s your money that is being invested. You can enquire about the best property deals, the compliances, documents and other requirements. 

Property knowledge

The Bahrain property market is vast. A real estate agent who has a thorough knowledge of the local market is essential. A good real estate agent will inform customers of the local amenities available in the neighborhood and surrounding areas. This gives the prospective buyer an idea of where to invest.

Testimonials and recommendations

A good real estate agent will offer its prospective customers a list of its clientele base. Contacting these clients will give you first-hand experience of the agent. You can also determine the way the agency operates. Testimonials and reviews are always the best way to ascertain the efficiency of the real estate agent. 

Conclusion

The Bahrain real estate market is highly volatile and dynamic. Choosing the right real estate agent can make the process less cumbersome. This allows you to make more informed decisions. Iris Property Managers is regarded as one of the best property management companies in Bahrain. With in-depth knowledge of the Bahrain real estate market, Iris has managed to remain a trusted name with its large clientele base. 

bahrain real estate market

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!

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May 2024
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