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The government and RERA are attempting to promote occupier mobility and broaden the sector’s appeal to generate additional momentum for investors interested in purchasing property in Bahrain nullifying the negative factors like higher vacancy rates and oversupply.

One of RERA’s major goals is to create a more transparent and sustainable real estate industry.It has already taken steps to increase transparency by instituting a licensing programme for all real estate developments, brokers, sales agents, and developers.

Bahrain, like its Gulf neighbours, has identified sustainable development as a key to economic diversification. It has invested in technology to reduce the environmental impact of its construction and real estate sectors, increasing the value of these projects as international investors become more interested in green investment. Bahrain’s recent actions demonstrate a sincere commitment to this, enhancing its stand as a stable and dependable location for foreign investors to purchase property in Bahrain. There are also very key highlights inviting individuals to purchase property in Bahrain. Let’s examine the advantages:

What makes Bahrain a good place to purchase a property?

1. Residence permit: Foreign property owners in Bahrain have the legal right to apply for a self-sponsorship residence permit. For a residence permit to be issued, the value of the purchased property must be greater than BHD 50,000. Furthermore, the property should be in one of Bahrain’s freehold areas, such as Juffair, Seef, Abraj Al Lulu, Busaiteen Town, Riffa Views, Amwaj, and others. That is not a secondary benefit to be neglected, as living in Bahrain is a fantastic opportunity. The kingdom is mostly calm and quiet, with beautiful scenery and a variety of recreational opportunities.
2. Growth in return investment: If you buy a property in Bahrain, your money will grow in value over time. Property prices are rising in many areas, particularly in freehold areas where demand is high. The sooner you grab a real estate opportunity, the greater your return on investment.
3. Gainful rental earnings: Bahrain’s rental market offers consistent income. Along with the absence of property and rent taxes, our freehold market is popular due to its competitively high gross rental yield. When purchasing a property in Bahrain, if we focus on areas with a high occupancy rate, particularly those in the city centre near the most important commercial areas there will be high rental yields, ranging between 10% and 12% per year.
4. Foreign ownership is 100%: One of the best locations to invest in real estate in the region for those from outside the GCC is Bahrain, which is the only nation in the Gulf where developers can benefit from 100% foreign ownership.
5. Simple monetization: Bahrain has one of the highest population densities in the world, owing to its small size and limited space, with the majority of residents concentrated in the main urban areas. Property sales are in high demand due to rising population growth rates and a high percentage of youth, particularly in major cities such as Manama and Muharraq, where job opportunities are more plentiful. Thus it is simple for property owners to find buyers and sell their properties to liquidate their held assets because of the area’s dense population.
6. Simple access: Whether by air, land, or sea, Bahrain is accessible from all directions and by all modes of transportation. Because of the King Fahd Causeway, Bahrain Island is now only 20 minutes away from the Arabian Peninsula. There are also regular ferries connecting Qatar and Bahrain, not to mention direct flights connecting the kingdom to more than 44 cities worldwide. So the region is simply accessible from any location.
7. Fair society: Bahrain ranked ninth among the best countries for ex-pats to work and live in a list published by the Independent, surpassing the UAE, Australia, and Hong Kong. Women can work and drive, foreigners have full business ownership rights, and they can buy property in Bahrain. The kingdom is actually like a melting pot where different nationalities peacefully coexist with one another because differences are always tolerated. Society is more open, and the laws are less stringent than in other GCC states.

Source:https://www.linkedin.com/pulse/how-expats-can-buy-property-bahrain-eraprojects?trk=organization-update-content_share-article

Mena is a leading company that provides various professional services in business & investment management. With an experienced & capable team to advise & create solutions for all management departments, we produce optimum results. We consider the economic and social trends, governmental controls or regulations and environmental conditions to know their demand, utility & scarcity before buying or selling a property. We examine the property’s potential & enhance the Client’s success.