Bahrain Real Estate Sector Grows at Slower Pace in 2023
The Bahrain real estate sector continued the upward momentum from 2022, albeit at a slower pace given increasing global macro-economic uncertainties, according to the Savills Q1 2023 Bahrain Property Market in Minutes update.
In the residential market, villa developments continued to gain in popularity, with capital values across the mid-end segment rising 5.2 per cent.
Rates are now estimated at BD603 per square metre ($1,600) compared to BD573 per square metre ($1,519) in Q1 2022.
However, the increased cost of credit has impacted demand for premium developments, with apartments feeling the impact more than villas.
High-end apartment values have dropped by 1.3 per cent quarter-on-quarter.
In the rental market, demand for low-end and mid-end villas remained strong as end-users limited their expenses owing to the current global economic landscape.
