Bahrain H1 2024, Market Watch Residential Real Estate Insights

2024-09-25

• In the first half of 2024, the Bahrain real estate market experienced a remarkable surge. The total value of sales transactions exceeded the annual total for 2023, reaching an impressive 680.4 million Bahraini Dinars (BHD) compared to 662.8 million BHD in the previous year.

• This increase was driven by fewer but more valuable transactions, as only 4,939 sales were recorded in H1 2024, representing approximately 50% of the total number of transactions for the entire year. This suggests a trend towards higher-priced property types and a shift in market dynamics.

Market Prospects

• The residential and mixed-use real estate sector in Bahrain boasted 19 ongoing projects valued at a combined USD
5.06 billion.

• These projects comprised 57.6% of all active projects and accounted for 49.8% of total investments. Private sector development dominated the market, contributing to 87.3% of ongoing projects and 68.6% of total investments by the end of Q2 2024.

• Capital governorate led in real estate investments, representing 70.2% of the total investment. This included 11 projects, comprising 58% of all projects. Muharraq followed with 6 ongoing projects valued at USD 1.503 million.

• Capital governorate held 60% of privately owned projects and 80% of private sector investments. While it had only 2
governmental projects, these accounted for 10% of total governmental investment. Muharraq also had 2 governmental
projects, but they represented 90% of total governmental investment.