Bahrain witnesses rise in number of real estate sale listings

Nine percent increase in the number of sale listings during Q1-2021 when compared with Q4-2020

  
Image used for illustrative purpose. Buildings are under construction to accommodate the influx of business as the banking industry continues to grow November 25,2002 in Manama, Bahrain.

Image used for illustrative purpose. Buildings are under construction to accommodate the influx of business as the banking industry continues to grow November 25,2002 in Manama, Bahrain.

Getty Images/Joe Raedle

MANAMA: A rise in sale listings alongside a corresponsing increase in online searches signals a return of activity in Bahrain’s real estate market, shows new data.

Listings portal Propertyfinder.bh has reported a nine per cent increase in the number of sale listings during Q1-2021 when compared with Q4-2020.

As more and more units are ready for handover, supply has continued to increase, which is evident in the rise in the number of sales listings on the site.

In addition, a parallel increase of 14 per cent in the number of searches for sale listings has also been recorded over the period, a clear sign of the growing demand for property.

“One of the patterns seen late in 2020 which continues this year is an increased interest in the sales sector,” said Property Finder Bahrain country manager Khaled Al Saeh.

“More often than not, downward price trends usually attract first time buyers, as prices become more affordable and within reach for first time investors.”

Advertised prices for apartments for sale in Manama recorded a 3pc drop when comparing Q4-2020, with Q1-2021, and another 2pc decrease was recorded for advertised prices for apartments for sale in Reef Island, on propertyfinder.bh.

Similarly, advertised prices for villas for sale in Diyar Al Muharraq, Hidd and Sanad all recorded a decrease of 3pc over the same period.

The top searched areas for the sales market remains steady, with Juffair, Amwaj Islands and Seef remaining the top three areas for end-users who are looking for apartments for sale on the site in Q1 this year.

In terms of villas, Saar, Amwaj Islands and Riffa are the top searched areas for villas for sale for the same period.

avinash@gdn.com.bh

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