Key regions: Japan, China, Australia, Germany, United States
The Residential Real Estate Leases market in Bahrain has been experiencing significant growth in recent years.
Customer preferences: Customers in Bahrain are increasingly opting for residential real estate leases instead of purchasing properties. This shift in preference can be attributed to several factors. Firstly, leasing offers more flexibility compared to buying a property, allowing individuals to easily relocate or upgrade their living arrangements as their needs change. Additionally, leasing requires a lower initial financial commitment compared to purchasing a property, making it a more affordable option for many individuals.
Trends in the market: One of the key trends in the residential real estate leases market in Bahrain is the increasing demand for furnished apartments. This trend can be attributed to the growing number of expatriates and international workers in the country. These individuals often prefer furnished apartments as they offer convenience and save them the hassle of purchasing and transporting furniture. As a result, property owners and developers are focusing on providing fully furnished apartments to cater to this demand. Another trend in the market is the rise of luxury residential leasing. Bahrain has seen an influx of high-net-worth individuals and expatriates who are willing to pay a premium for luxury living spaces. This has led to the development of high-end residential complexes and luxury apartments that offer top-notch amenities and services. The demand for luxury residential leasing is expected to continue growing as Bahrain positions itself as a hub for business and tourism in the region.
Local special circumstances: Bahrain's strategic location in the Middle East, coupled with its business-friendly environment and attractive tax policies, has attracted a significant number of expatriates and foreign investors. This has contributed to the growth of the residential real estate leases market in the country. Additionally, Bahrain's government has implemented initiatives to promote the real estate sector, such as the introduction of the Real Estate Regulatory Authority, which has helped boost investor confidence and attract more foreign investment.
Underlying macroeconomic factors: Bahrain's strong economic growth and stable political environment have played a crucial role in the development of the residential real estate leases market. The country has witnessed steady economic expansion, driven by sectors such as finance, tourism, and manufacturing. This has resulted in an increase in job opportunities and a growing population, leading to higher demand for residential properties. Furthermore, Bahrain's government has been investing heavily in infrastructure development, which has further stimulated the real estate market. The construction of new roads, airports, and residential complexes has created a favorable environment for property developers and investors. In conclusion, the residential real estate leases market in Bahrain is experiencing growth due to customer preferences for flexibility and affordability, as well as the increasing demand for furnished apartments and luxury residential leasing. The country's strategic location, business-friendly environment, and strong economic growth are contributing factors to this market development.
Data coverage:
Figures are based on total and average revenue of residential apartment leases.Modeling approach:
Market size is determined by a bottom-up approach. We use national statistics, international organizations, and industry associations to analyze the markets. To estimate the market size for each country individually, we use relevant key market indicators and data from country specific industry associations such as GDP, price level index, household wealth, household size, number of renter and owner households, housing consumer spending per capita.Forecasts:
We use a variety of forecasting techniques, depending on the behavior of the market, for instance, exponential trend smoothing. The main drivers are GDP per capita, population, number of renter and owner households, price level index, housing consumer spending per capita.Additional Notes:
Data is modeled using current exchange rates. The market is updated twice per year in case market dynamics change. The impacts of the Russia-Ukraine war considered at a country-specific level.
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