Bahrain Luxury Residential Real Estate Market Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)

 

Bahrain Luxury Residential Real Estate Market Analysis:

1. The Bahrain Luxury Residential Real Estate Market is projected to experience significant growth in terms of transaction value over the forecast period from 2023 to 2028. The market is expected to expand from USD 263.71 million in 2023 to USD 354.72 million by 2028, representing a compound annual growth rate (CAGR) of 6.11%. This growth is primarily driven by the demand for luxury residences from both the Gulf Cooperation Council (GCC) countries and other foreign nations. Additionally, there is a notable demand for rental real estate, which further contributes to the overall growth of the market.

2. Situated between Saudi Arabia and Qatar, the Kingdom of Bahrain is an archipelago consisting of the main island of Bahrain and numerous smaller islands. It has gained popularity among foreign retirees and investors due to its safety, tranquility, affordable cost of living, and diverse population. Compared to neighboring Gulf Cooperation Council countries like Saudi Arabia and Qatar, Bahrain is considered more liberal as it allows women to work and drive. While Arabic serves as the official language, English is widely spoken and understood. Despite an increase in population and the influx of foreign residents, Bahrain’s residential market has experienced a softening trend in recent years due to an oversupply of housing.

3. In the first quarter of 2022, Bahrain’s residential capital values remained stable, indicating a steady market. The demand for rental properties, particularly villas and townhouses, remained strong across the country during this period. According to a real estate services provider, the capital values in Bahrain’s residential real estate segment have consistently remained stable on a quarterly basis. However, when comparing year-on-year data, the capital value index for apartments and villas in Bahrain has experienced a slight decline of 1.2% and 2.6%, respectively, as reported in Savill’s Q1 2022 Bahrain Market in Minutes report.

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