General Report on real estate trading index the Kingdom till the end of 2007
The Kingdom's real estate sector witnessed a significant growth in the real estate investments till the end of 2007. This indicates the confidence of investors in such types of investments as Bahrain enjoys atmosphere of economic openness, political and social stability and security which has a positive impact on investor confidence to invest their monies in the Kingdom. The real estate investments are one of the most influential and significant economic components of infrastructure projects which have influential and positive results of the state's GDP.
Actual results of 2007:
The actual results till the end of 2007 refer to an increase in real estate transactions amounting to 65% compared to 2006.
As for the total real estate transactions, the real estate transactions during the year 2007 amounted to BD1,356,649,381, compared to BD876,212,239 in 2006; an increase of BD480,437,142, and December 2007 was the highest month of real estate market recovery as the value of real estate was BD223,836,682.
Notably, the highest trading index until the end of 2007 was achieved in the fourth quarter by 33%, followed by second and third quarters by 25%, then the first quarter by 17%, and such percentages refer to the continued recovery of the real estate market in the Kingdom of Bahrain.
Governorates' trading index:
The capital governorate had the highest real estate trading percentage among other governorates by 44%, followed by the northern governorate by 19%, Muharraq governorate by 18%, and finally the central and southern governorates by 9% each.
Real Estate trading index of GCC nationals and foreigners
Total trading volume of Bahraini citizens over the past period was 93% of the total real estate transactions and 7% for GCC nationals and foreigners.
Saudi citizens had the highest share compared to the share of other nationalities as their transactions amounted to BD50.048.877, followed by and the Kuwaiti citizens by BD21.071.530 and UAE citizens by BD4.611.620.
Total No of Transaction
|
Type of Transaction |
No of Transactions |
|
|
2007 |
2006 |
|
|
Ownership Registration |
10,913 |
11,679 |
|
Ownership swap |
5,482 |
4,384 |
|
Total |
16,395 |
16,063 |
Value of Property traded during the period from (January to December) 2007
|
No of property |
Investors |
Value of trading |
% |
|
18267 |
Bahrain |
1,265,320,557.925 |
93% |
|
107 |
KSA |
50,048,877.125 |
3.6% |
|
47 |
Kuwait |
21,071,530.000 |
2% |
|
12 |
Qatar |
4,611,620.000 |
3.% |
|
19 |
UAE |
2,828,461.000 |
2.% |
|
10 |
Oman |
1,677,167.000 |
1.% |
|
61 |
Foreigners |
11,091,168 |
8.% |
|
18523 |
Total |
1,356,649,381 |
100% |
|
Value of Property traded during the period from (January to December) 2007
|
- Value of Property traded during the period from (J