Published on 31 March 2007 at 03:41 pm
Filed in Property News for Bahrain » Significant Developments Affecting Property Market in Bahrain
The property market in Bahrain is in fine form at the moment and its future prospects have been enhanced by significant mortgage and finance developments this week. However, leading global monitor Fitch Ratings have warned that the real estate market could actually be over-hyped and wrapped up in a banking bubble that is about to burst and harm the overall booming Bahraini economy.
The significant developments affecting the property market in Bahrain are therefore not all positive – let’s take a closer look…
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Essentially it has been possible for foreign investors to purchase real estate in Bahrain since 2001 when a royal declaration was issued to that effect.
The declaration was fully endorsed and sanctioned in 2003 and it states that foreign buyers are permitted to buy certain types of property in certain areas of Bahrain.
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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.
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An island nation in the Persian Gulf of intense strategic importance, Bahrain is also an interesting emerging real estate economy with incredible opportunity for property investors and developers alike - this is a general country guide to Bahrain for property buyers.
The economy of Bahrain which was once driven by oil has quickly been diversified; the country’s government understood and reacted to the requirement for economic change very swiftly. It resulted from dwindling oil supplies and nowadays the country has a successful petroleum processing and banking based economy and an emerging real estate economy.
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