Published on 19 October 2005 at 06:27 pm
Filed under: Middle East:- Bahrain Property Guides » Bahrain Property Investment Guide
Bahrain has a fast developing real estate sector that currently offers inimitable property investment opportunity with the potential for substantial short term growth and significant long term yields.
As Bahrain concentrates on developing its economy in five prime business areas so the international population of the country is growing fast, the country’s infrastructure is improving and the attraction and appeal of this Persian Gulf island nation is intensifying creating sustained interest in the property sector.
The five main economic areas that the Bahraini Government are successfully targeting in a bid to replace their current oil dependent income are: -
Business and financial services
Tourism
Information technology
Telecommunications
Healthcare and education
The growth in the real estate sector is wholly secondary to the development of these five key areas and is being brought about by an increase in the numbers of international executives and employees who are relocating to Bahrain to establish business enterprises or to take up employment and residence.
The demand for property for sale in Bahrain by overseas buyers was so intense that it led to a change in the constitution in 2001 to allow for foreign freehold ownership of real estate in commercial and residential high rise buildings as well as in areas designated for tourism, banking, financial, health and educational training.
The occupancy demand for quality accommodation in Bahrain is as intense as the investor demand and as a result a large amount of investment is being poured into improving infrastructure and services and developers are selling on fully serviced sites for development. Many major residential developments are in the pipeline in Bahrain and because the property sector lacks fashionable appeal at the moment the off plan prices being charged are especially attractive.
As developments are sold out and international interest in Bahrain grows as it becomes a business and tourism destination of note, so prices for property available for sale freehold to the international buyer and investor will soar. In the interim and for the medium term at least the rental rates chargeable in Bahrain are likely to increase in line with an increase in demand, therefore the long term prospects of investment property in Bahrain are exceptional.
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