Bahrain Real Estate Shows Stability and Growth in 2024

Post by: Omar Nasser

In 2024, Bahrain’s property market stayed strong and steady, even though there were a few fewer deals. This was shared in a new report by ASK Real Estate.

The report said that the number of property deals dropped a little by 4.82% compared to the year before. A total of 24,863 deals were made.

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Even though there were fewer deals, the total money from these deals only went down a little—just 1.64%. The full amount was BD1.06 billion. This means people are still buying expensive properties, even if fewer are being sold.

The prices of land, homes, shops, and factories did not change much in 2024. This is a good sign and shows that the market is safe and strong.

Hotels also did better this year. More people stayed in hotels. Room use went up from 52.88% in 2023 to 54.85% in 2024. That is a rise of 1.97%.

The money hotels made from rooms also went up. On average, people paid BD63.80 per night, which is 3.76% more than before. The money hotels made from each room grew by 8.36%, reaching BD37.07. This shows that more people are coming to Bahrain to visit.

Karim Yazji, the boss of ASK Real Estate, said the market is strong because people trust it. He said the government helped by being open and sharing good information. That made things easier for people who want to invest.

He also said that the signs in the report show the property market is helping Bahrain’s economy. From 2021 to 2024, the market grew well because of smart steps.

The report also talked about the world economy. It said that in 2024, the world grew slowly, around 3.2%, because of high prices and strict money rules earlier in the year.

But in the Gulf region, countries like Bahrain did better. They made more money from oil and worked on other businesses too.

Bahrain also had big success in 2024. It moved up to 21st place in the world for how well it competes in business. It got $2.4 billion in new money from investors using something called the Golden Licence. Also, the Abu Dhabi Fund gave big help in money for projects.

The report looked at different parts of the property market. It said that shop rents, office rents, factory spaces, and houses are now more stable. Many people, including foreigners and others from Gulf countries, are still buying homes that are not yet built (off-plan homes).

The report also said that building green, eco-friendly buildings is becoming more important. This helps the Earth and gives new chances for builders.

Looking at 2025, the report says Bahrain and other Gulf countries will keep growing, with help from oil and other business plans.

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