Bahrain real estate prices slump
Manama, May 19, 2013
The real estate prices in troubled areas of the kingdom could witness further declines, warned a Bahrain property expert.
Land prices and rents in the Northern Governorate have fallen 40 to 60 per cent due to security issues, stated Nasser Al Ahli, the chairman of Bahrain Real Estate Society.
Juffair and Mahooz have witnessed 20 to 30 per cent drop in prices due to new policies adopted by financial institutions following the global financial crisis, he said.
However, population growth in residential areas of the Southern Governorate and Muharraq has seen land prices and rents go up, he added, reports our sister paper Akhbar Al Khaleej.-TradeArabia News Service