Jan 21, 2016 – Over the past few years Bahrain’s real estate market has seen its ups and downs due to the economical and political instabilities within the region. However Bahrain’s economy and its real estate market continues to bounce back stronger every time proving that the real estate market in Bahrain is one of the most resilient ones in the GCC and the middle east.
Bahrain’s contentious growth, upwards trajectory and its ability to overcome the economical turbulence has attracted many foreign companies to choose Bahrain as their Middle Eastern hub of the region. Such actions have resulted in many expats relocating to Bahrain thus increasing the demand in real estate. YourAmlak Bahrain has reinvented the real estate market through monitoring statistical consumer trends and search behaviors during the last quarter of 2015. While most property searches have been initiated in Bahrain it is evident that numerous clients are searching for property from outside regions with the UAE being the second highest and KSA as the third.
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In December of 2015 approximately 30,000 real estate consumers visited YourAmlak in search of their next home or investment opportunity; when these users interact with the website and its search engine they provide valuable insight as to what today’s real estate consumers are looking for. Some of the reports highlighted in this article have played a fundamental role with real estate brokers shifting their focus on to today’s most desirable areas of Bahrain.
As we launch into 2016, short term and long term rentals are expected to spike due to Bahrain’s recent efforts in hosting local and international shows and exhibitions such as The 2016 Air Show, Formula One, The Grand Prix, Bahrain Shopping Festival, Jewelry Arabia, Bipex and many more.
Rental searches towards the end of 2015:
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As for the real estate sales in 2016, the ever growing competition among the financial institutions make it quite simple and easy to obtain a mortgage. Additionally, with growing demands in the rental sector, many expats are now buying and renting real estate in Bahrain with an average 8% annual yield in the areas of high demand.
Sale searches towards the end of 2015:
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Most of the interest in the property market seems to come from individuals between the ages of 25-34 (30% of traffic) and between the ages of 35-44 (22% of traffic).
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Furthermore, the interest in the property market has been statistically observed to be predominately male-oriented. The data accrued from the YourAmlak database suggests that a staggering 65% of their visits are from males, whereas 27% are females (the remaining 8% being anonymous).
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High internet penetration rates along with the ease of internet access that comes with smart phones has resulted in more people using their mobiles to find products and services on the internet. YourAmlak is no different with over 75% of their searches originating from mobile devices.
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YourAmlak further added that depending on how many listings our real estate agents have listed, they can generate up to thousands of clicks on their properties.
When asked about the future of YourAmlak, founder and CEO Omar Amer stated that the company is expanding in terms of traffic and listings daily. The company is expected to launch in a number of countries including Jordan, Oman and Egypt with expectations of bringing a wide variety of new projects and real estate agents in each of the countries they are operating in.
The YourAmlak portal was developed by Cactimedia – a leading web design company in Dubai that serves some of the biggest brands in Dubai and across the UAE.
Source: YourAmlak Google Analytics
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Company Name: YourAmlak
Phone: +973 1750 2732
Address:Level 22 West Tower, Bahrain Financial Harbour, King Faisal Highway