Bahrain Real Estate News
Bahrain realty sector nearing bottom of market
The Bahrain government has announced a stimulus package of $300mn to be invested on infrastructure projects, and a $550 scheme towards housing for 50,000 families on the government waiting list. This initiative is largely being done to overcome the impact of reduced foreign direct investment into Bahrain, points out Mike Williams, the Senior Director at CBRE Bahrain.
The development of government housing will focus on major areas of the Kingdom, including North Town, East Sitra and East Hidd. However, the distribution of units in terms of townhouses and apartments were not declared, and remains an issue of concern for low-income Bahrainis.
The major market sectors indicated in the rent cycle chart are in the same quadrant, marking a slow decline, which indicates that Bahrain’s real estate sector is nearing the bottom of the market, Williams pointed out.
Landlords are of the opinion that they would rather let the properties remain vacant, rather than accept low rentals. Although this attitude of landlords, do not seem consistent throughout the market, it is largely dependent on whether the properties are owned with or without leverage.
Posted on 30/5/2012
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