The total value of real estate transactions during the first quarter of 2024 in Bahrain increased to BD393,183,257 compared with the same period last year.

The number of sales transactions reached 2,530 between January and March, a jump of 23 per cent in trading compared with the corresponding period last year.

“Last year, the value of real estate transactions during the first quarter amounted to BD320,060,693 through 2,242 deals,” said Survey and Land Registration Bureau (SLRB) chairman Bassem Al Hamer.

“The trading volume for Bahraini nationals last year stood at BD287,576,049, reaching BD355,794,712 so far this year.

“The trading ratio for Gulf nationals for 2023 reached BD15,427,274, and this year BD15,055,907. As for foreigners, the turnover for 2023 reached BD17,057,371, and BD22,332,638 this year,” said Mr Al Hamer.

“The real estate sector achieved development strides in the first quarter this year, which indicates the vitality of this sector and the capabilities it possesses that contribute to enhancing its role to support various development sectors.”

He reported growing demand for purchasing real estate, such as apartments in residential towers, houses, plots and buildings across the four governorates, adding that the Capital Governorate achieved the highest sales rate during the first quarter of the year.

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