Bahrain Property Report - Market in Minutes Q3 2022
MARKET HIGHLIGHTS
- Government revenues increased by 52%, achieving a budget surplus of BHD33 million during H1 2022 on the back of higher oil revenues. This will help reduce government debt substantially to 81% of GDP this year from 100% of GDP in 2020.
- Demand for residential projects has remained largely stable during Q3 2022. However, we expect capital values to marginally decline going forward as demand deteriorates on the back of rapidly changing debt markets, which is impacting lending rates.
- In the commercial space, several occupiers are actively analysing their office needs. Demand for good-quality Grade A offices continues to remain strong with some notable office transactions being secured.
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