MANAMA: Increase in sale listings close by a corresponding expansion in online inquiries flags an arrival of action in Bahrain’s housing market, shows new information.
Listings portal Propertyfinder.bh has registered a 9% rise in the number of sales listings during Q1-2021 in comparison to Q4-2020.
As more and more units are ready for handover, supply has kept on expanding, which is obvious in the rise in the quantity of deals listings on the site.
Adding on, a parallel rise of 14% in the figure of searches for sale listings has also been registered over the period, a clear sign of the increasing demand for property.
“One of the patterns seen late in 2020 which continues this year is an increased interest in the sales sector,” said Property Finder Bahrain country manager Khaled Al Saeh.
“More often than not, downward price trends usually attract first-time buyers, as prices become more affordable and within reach for first-time investors.”
Advertised costs for apartments for a deal in Manama registered a 3pc fall when compared with Q4-2020 and also with Q1-2021, and another 2pc fall was registered for advertised costs for apartments for a deal in Reef Island, on propertyfinder.bh.
Similarly, advertised costs for villas for deals in Diyar Al Muharraq, Hidd, and Sanad all registered a fall of 3pc over the same period.
The main searched areas for the deals market remain rigid, with Juffair, Amway Islands, and Seef remaining the main three areas for end-users who are seeking apartments for deals on the site in Q1 this year.
Regarding villas, Saar, Amwaj Islands, and Riffa are the main searched areas for villas for sale for the same period.