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Bahrain real estate stays stable despite oil drop

Bahrain - November 16, 2016
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Most of Bahrain real estate markets have recorded a stable activity during the second half of this year, according to the international real estate consultancy “Cluttons”.

The consultancy stated in its Bahrain 2016/2017 Winter Market Outlook Report that rental prices in residential sector remained resilient, despite negative expectations.

The residential market didn’t register any change in rental prices in Bahrain during the second half, except Amwaj Islands which witnessed a BHD 50 rise in four-bedroom villas rents.

Retail sector was remarkably sluggish as well, with expectations of stable performance in the coming six to twelve months.

The head of Cluttons Bahrain “Harry Goodson-Wickes” attributed the current stability in Bahrain real estate market to the weak economic performance and low job creation rate, happening as a result of the slump in oil prices.

Faisal Durrani, the head of research, said that the company has foreseen a 5 percent drop in rents over the course of the year, but now they have altered their forecasts expecting no declines until the end of the year.

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