The average price of housing in the center of Bahrain is relatively high, so that these houses are priced at 2,790 dollars per square meter, and outside the city, the average housing price in this country is 1,800 dollars per square meter
Bahrain allows foreign nationals to buy property in designated areas, known as freehold zones. These areas include popular locations such as Amwaj Islands, Durrat Al Bahrain, and Riffa Views. In other areas, non-Bahraini individuals can acquire properties on a leasehold basis for a specific duration, typically 99 years. Investing in properties within freehold zones can offer full ownership rights, including the ability to buy, sell, rent, or lease the property without restrictions. These areas often feature modern residential complexes, commercial buildings, and amenities such as shopping centers, restaurants, and leisure facilities.
Conducting thorough market research is crucial before making a property purchase. Analyze property prices, rental yields, market trends, and potential for capital appreciation. Consider factors such as location, amenities, infrastructure, and projected development plans that may impact the value of the property in the future. Buying property in Bahrain may provide opportunities to obtain residency or citizenship. Bahrain offers various residency schemes, such as the Investor Residence Permit, which allows property owners to reside in the country. Additionally, Bahrain's citizenship-by-investment program provides a pathway to citizenship for eligible investors.
Like many countries in the Persian Gulf Cooperation Council, investment in Bahrain is tax-free for most private companies, with the exception of companies in the oil and gas exploration, refining and production sectors. However, Bahrain allows 100% ownership of commercial assets in certain sectors, which is considered a privilege. Self-sufficient residence is granted to foreign property owners, individuals who qualify for a Bahrain investment visa, as well as foreign retirees.
The average price of housing in the center of Bahrain is relatively high, so that these houses are priced at 2,790 dollars per square meter, and outside the city, the average housing price in this country is 1,800 dollars per square meter. The demand of foreigners to buy property in Bahrain in 2022 reached its highest level since 2014. Official statistics show that this increase in interest in buying property in Bahrain is the result of the golden stay in this country and has reached its highest rate since 2014. The turnover of foreigners to buy property in Bahrain, excluding citizens of the Persian Gulf countries, has reached 60.69 million dinars (161 million dollars), which is the highest rate in the last eight years.
Bahrain is a country consisting of 33 islands in the Persian Gulf and its area is 760 square kilometers. Most of these islands consist of desert plains. The country's sources of income are through its natural resources, which include natural gas, oil, fish and pearls. In recent years, with the reduction of oil reserves, Bahrain has turned to oil processing and refining industries and is becoming one of the international banking centers.
Bahrain has a well-established banking sector that offers mortgage financing options for property purchases. Local and international banks provide various financing packages with competitive interest rates and terms. It's advisable to consult with banks to understand the eligibility criteria and requirements for obtaining a mortgage. When buying property in Bahrain, it is essential to ensure that all legal requirements are met. This includes conducting due diligence on the property, verifying ownership, and reviewing contracts and agreements. Engaging a qualified lawyer specializing in real estate transactions can help navigate the legal aspects and protect your interests.
Bahrain offers a range of property types to choose from, including apartments, villas, townhouses, and commercial spaces. The market caters to various budgets and preferences, whether you are looking for a luxurious waterfront property or a more affordable option. Engaging a reputable real estate agent or property developer can help streamline the buying process and provide valuable insights into the local market. They can assist with property search, negotiations, legal processes, and documentation.
