Bahrain, Property Market Outlook, Spring 2017
Cluttons has released its biannual Bahrain Property Market Outlook for Spring 2017.
The relative stability of residential rents across the Kingdom’s key expat dominated submarkets appears to have ended following a largely flat 2016. 2017 has marked a change in conditions, with rents retreating across the board during the three months to the end of March.
Similarly, 2016 proved another stable year for Bahrain’s office market with no movement in headline rents reported across the Kingdom’s key submarkets; however this changed in Q1 2017, with landlords breaking ranks and lowering rents to the most attractive levels in over a decade as they try to entice relocation activity which has failed to materialise, in large part due to active management by committed landlords.
The retail market remains a beacon of growth in the Kingdom, with unrelenting demand driving larger and more sophisticated retail offerings, which is helping to keep rents steady.