In first quarter of 2018 there are an evaluated 9,950 freehold apartment units in Bahrain that have been built and are welcoming international investors.
CBRE research tracked these properties with a focus on six submarkets including Juffair, Seef District and Muharraq.
With a present pipeline supply of about 7,000 units targeted for delivery between 2018 and 2021, there will be a 70% hike in available stock through out this sector over a short three year period, if developments complete construction on time.
Prime sales prices for apartments in sought after waterfront and gated community locations increased year on year between first quarter of 2017 and first quarter of 2018 increasing up to BD1,600 per square metre with exclusive branded products.
The market also benefits from providing units at a wide range of price points beginning at BD500 per square metre with a median sales rate of BD850 per square metre through out all tracked submarkets.
Market dynamics predict that with a significant hike in supply of freehold residential apartments predict over the short term together with marginal growth in resident and GCC Arab buyer demand the local market should start to see decreasing pressure on average sales prices as projects start to complete and vacancy rates steadily increase. Brand View permits our business partners to share content with Arabian Business readers. The content is provided by Arabian Business Brand View Partners.
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