IRIS Property Management W.L.L

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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!

rera approved real estate companies in bahrain

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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