Bahrain: The residential sector has recorded about 6,200 freehold villas on the market as of the fourth quarter of 2019, marking a continued rise in villa supply, according to a report by the global real estate services and investment firm CBRE.
This existing supply, targeting mid- to high-end buyers, is spread across a total of 40 projects that are viewed as being either waterfront, gated communities or non-gated villas.
An additional 10 projects are currently under development, which will see extra 5,150 units enter the market when completed. These new properties are expected before the end of 2025 and will boost stock levels by 83 percent to 11,350 units, further strengthening the Kingdom’s residential real estate market for buyers and investors.
Currently, the most sought-after properties are gated community villas, which performed well in Q4 of 2019 with the sales rates increasing to BD690 (€1633.22) per sq m. The sales price gap between the waterfront and gated community villas has closed year-on-year.
The report also reveals that three-bedroom villas had the highest average sales rates in Q4 2019 across this asset class, which were quoted for BD685 per sq m. This was followed closely by four-bedroom villa pricing which represented the second-highest asking rates in the Bahrain residential sector.