MANAMA: An increase in sale listings close to a corresponding rise in online searches, signals, a return of activity in Bahrain’s real estate market, reflecting new data.
Listing portal Propertyfinder.bh has registered a 9% rise in the number of sale listings during Q1-2021 when compared with Q4-2020.
As more and more units are ready for handover, supply continues to rise, which is evident for the increase in the number of sales listings on the site.
Adding on, a parallel rise of 14% in the number 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 sale in Manama registered a 3pc fall when compared Q4-2020, with Q1-2021, and another 2pc fall was registered for advertised costs for apartments for deals 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 sales market remain static, with Juffair, Amwaj Islands, and Seef remaining the main three areas for end-users who are looking for apartments for sale on the site in Q1 this year.
In terms of villas, Saar, Amwaj Islands, and Riffa are the main searched areas for villas for sale for the same period.