FINANCIAL NEWS

Renting rates steady in Bahrain

05 May 2012

(MENAFN) Property consultancy firm Cluttons, said that residential rents and property prices in Bahrain are stabilizing, as many large projects are delayed or slowed, reported The National.

The company added that in 2011, rents for some apartments have dropped by 6.25 percent compared with a year earlier.

It also said that well-maintained compounds with good facilities and security are becoming more popular than individual villas, moreover, popular areas including Amwaj, Jasra, Hamala, Saar and Janabiya are showing some price stability.

It is worth noting that Bahrain’s sales market is quiet, as the majority of sellers refuse to take in a loss, according to Cluttons, therefore, keeping their properties on the market for longer periods.

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