by:
Lina Sabrawi
Partner – Business Development
HighBridge Co. W.L.L. – Bahrain
At this current status of the market, we strongly believe that now is the ideal time to buy a property in Bahrain, as we will explain in greater detail below.
Let us start with a famous and to the point quote by T. Harv Eker, which best depicts the conclusion we wish to draw from this article: “Don’t wait to buy real estate, buy real estate and then wait.”
Why is it the ideal time to buy real estate in Bahrain?
As a general rule, whenever you want to buy or sell a property, it is important to know in which form of a market you are in; is it a buyer’s market or a seller’s market? Simply put, a buyer’s market is where the buyer is spoilt for choice and benefits whereas a seller’s market is where the seller is spoilt for choice and benefits.
Currently, we are in a buyer’s market where the supply of available properties far exceeds the demand for such properties. Is this bad? Not at all if you are a buyer. When you want to buy a property, being in a buyer’s market is undoubtedly the ideal time for you to make your purchase, simply because you will be dictating your terms.
Hence, today in Bahrain, buyers are literally spoilt for choice and benefits because they will be able to buy the property of their choice, particularly in terms of the following important features:
– competitive price,
– suitable size,
– strategic location,
– style,
– advanced infrastructure,
– high-end finishing
– unique concepts,
– quality life style and luxurious furnishing,
– amenities (gym, swimming pools, spas, cinema, mini-markets, etc.) and
– attractive financing facilities, either from the banks or directly from the developers.
One common mistake that we tend to make during a market with a downward trend is to wait until we catch the bottom of the market. Well, theoretically this is possible, however practically it is near to impossible. In fact, trying to catch the bottom of the market is just like dreaming of winning a grand lottery prize where the chance to win is 1 to 100 million. Therefore, the simple advice here is do not waste your time trying to catch the bottom of the market but rather spend it finding the right opportunity which would otherwise be just a dream.
Among the many unique advantages that the real estate sector in Bahrain offers to investors, we wish to highlight two key features:
- a) Today, Bahrain offers a wide range of choices from very high-end luxury properties to projects developed specifically for medium-range buyers, with attractive terms and competitive financing arrangements than ever before.
- b) Moreover, today, the real estate sector in Bahrain is much more organised and better regulated than ever before, especially after the formation of the Real Estate Regulatory Authority (RERA) in 2017. The primary objective of RERA is to deliver effective and fair regulation in the real estate market, to promote economic growth and investment in Bahrain and to protect the rights of real estate owners in Bahrain.
We conclude with the following statement: Make your choice today, do not wait and do not hesitate, because as a fact of life, the market will turn sooner or later.
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