Key regions: Germany, Europe, Asia, United States, United Kingdom
The Residential Real Estate Transactions market in Bahrain has been experiencing significant growth in recent years, driven by various factors such as customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. Customer preferences in the Bahraini real estate market have shifted towards residential properties due to several reasons. Firstly, there is a growing demand for housing among the young population, as more young people are entering the workforce and looking to establish their own households. Additionally, there is a preference for modern and well-designed residential properties that offer amenities and convenience. This includes properties with access to recreational facilities, shopping centers, and educational institutions. Trends in the market have also played a role in the development of the Residential Real Estate Transactions market in Bahrain. One notable trend is the increasing popularity of off-plan properties, where buyers can purchase a property before it is completed. This trend has been driven by developers offering attractive payment plans and incentives, as well as the potential for capital appreciation. Another trend is the rise of sustainable and eco-friendly buildings, as more buyers are becoming environmentally conscious and seeking properties that align with their values. Local special circumstances in Bahrain have also contributed to the growth of the Residential Real Estate Transactions market. One such circumstance is the government's focus on developing the real estate sector as part of its economic diversification efforts. This has led to the implementation of policies and initiatives aimed at attracting foreign investment and promoting the construction of residential properties. Additionally, the availability of affordable financing options, such as mortgage loans with competitive interest rates, has made it easier for individuals to purchase residential properties. Underlying macroeconomic factors have also played a role in the development of the Residential Real Estate Transactions market in Bahrain. The country's stable political environment, favorable tax regime, and strategic location in the Gulf region have made it an attractive destination for both local and international investors. Furthermore, Bahrain's strong economic growth, driven by sectors such as finance, tourism, and manufacturing, has created a conducive environment for real estate development. In conclusion, the Residential Real Estate Transactions market in Bahrain has experienced significant growth due to customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. The demand for residential properties, the popularity of off-plan properties, the focus on sustainable buildings, government initiatives, and favorable macroeconomic conditions have all contributed to the development of the market. As Bahrain continues to attract investment and experience economic growth, the Residential Real Estate Transactions market is expected to thrive in the coming years.
Data coverage:
Figures are based on total and average revenue of residential real estate transactions (sales).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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