How luxury residential properties are gaining more prominence in Bahrain.
Bahrain's luxury residential property market is one of the most promising segments in the Bahrain real estate market. The Bahrain Luxury Residential real estate market is segmented by type – Apartments, villas, and landed houses across the key cities like Manama, Muharraq and Juffair.
A recent report by Mordor Intelligence estimated that Bahrain luxury residential real estate is expected to register a CAGR greater than 5% during the forecasted period 2022 – 2027.
As the market recovers from the pandemic, Bahrain's real estate marketing has noticed a rise in the sale and rental deals. A shift in consumer behaviour and price shifts in the rental market resulted in many residents upgrading their homes, especially those with amenities such as pools and playgrounds.
Also, as per the data by Property Finder, there has been an upward growth in the luxury residential real estate market. While as per Savills given the increase in supply by approximately 3500 apartments and villas in a short period, a noticeable occupant movement has been observed. While this would further intensify with an additional supply of 4322 units over the next 4 years with projects Golden Gate Towers, Onyx Bahrain Bay, Paramount Tower, Harbour Row, and Amwaj Gateway being handed over.
Luxury residential real estate is driven by Investors
Driven by Kuwaiti and Saudi investors, the luxury residential sector has been witnessing speculative growth. The rising oil prices and high surpluses from the stock market are providing huge liquidity levels in the GCC region, which lead to GCC investors buying into Bahraini land, which is estimated to continue.
While one of the reasons for the rise of demand for luxury properties is the increasing population, the other is the influx of foreigners, not only in Bahrain but also from Saudi Arabia, who comes from across the King Fahd causeway.
Overall, the demand for luxury residential real estate in Bahrain will rise in the coming months.
About Royal Ambassador
Royal Ambassador is a leading property management and hospitality company in the Kingdom of Bahrain. Handling a property portfolio comprising 11 iconic residential properties offering over 3000 luxury apartments.
If you are looking for luxury apartments for rent or sale, you can get in touch with us at +973 1700 0661