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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.

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.

fm companies in Bahrain
21
Sep

Introduction of Facility Management Company in Bahrain

Posted on September 21, 2022 in Blog
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When you work with FM companies like Iris Property Management, the maintenance of the facilities on your property will be taken care of by the most reputable FM Company in Bahrain, so you won’t have to stress about it anymore. If you choose Iris as your facility management provider, you can be certain that the company will handle everything from the start to the end.  The firm should have employed facility management experts that will maintain your facilities in pristine condition, allowing you to save money while also lowering the risk of any potential hazards. They need to be comfortable in the settings where they spend the bulk of their time, such as where they work, play, live, and where they go to school.

Main priorities of facility management

The FM team should places a high priority on the fulfillment of our clients and takes its responsibility seriously, company will pay frequent visits to your home to ensure that all of its components, including the woodwork and the furnishings, as well as the electrical, plumbing, cleaning, and air conditioning systems, are in good working order. In addition, the geographic coverage of our services extends throughout the entirety of the Kingdom of Bahrain, including all of its cities and regions. This ensures that we will be able to reach your property promptly, irrespective of where it is discovered or what time of day it is (our services are available 24 hours a day), in order to resolve any problem that may cause you to experience any form of disruption.

Responsibilities of facility management

In the realm of facilities management, one of the most important responsibilities is the upkeep of commercial properties such as hotels, resorts, schools, offices, sports stadiums, conference centers, hospitals, and airports. It’s possible that providers are responsible for things like heating and cooling, utilities, security, maintenance, cleaning, and the atmosphere. You don’t need to stress about a thing since the well-trained personnel will do all that’s required to keep your property running smoothly.

Facilities are operated by handling some of the following activities

  • In order to maintain environmental health and safety in commercial and residential buildings, cleanliness and the appropriate disposal of waste are essential components.
  • Maintain, improve, and landscape an existing garden.
  • Maintenance of mechanical systems, including elevators and heating, ventilation, air conditioning, and refrigeration (HVAC/) equipment
  • Backup generators and emergency power supplies are examples of several types of power sources.
  • The infrastructure of an automated building would often include features such as locks, safes, security alarms, and video monitoring systems.
  • Those devices, like smoke detectors and fire hoses, are intended to save lives and keep people safe in dangerous situations.
  • Tasks related to facility management might include the installation of furniture, office technology, and office layout, among other things. Finally, choose a FM company in Bahrain who can ensure smooth operations.
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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