Bahrain’s real estate sector has shown strong signs of growth last year boosting its post-pandemic recovery, a new report by ASK Real Estate said.The report notes that several construction projects which had stalled or stopped during the pandemic period have resumed and lots of construction cranes can be observed across the Bahrain skyline signalling a return to economic normalcy.It also said that Bahrain’s real estate transactions value were BD1.086 billion (2,5 billion euros) at the end of the fourth quarter of 2022, compared to BD1.046bn (2,4bn euros) for the year 2021, an increase of 3.9 per cent.Total transactions last year amounted to 21,603 compared to 21,444 for the year 2021, an increase of around 0.74pc, which demonstrates the return of activity in the sector to the pre-pandemic era.The total real estate transactions in the fourth quarter of 2022 stood at 5,659 with a value of BD287.5 million (705 million euros). The report noted that the recovery of tourism industry in Bahrain in 2022 contributed significantly to the growth of the economy. It has increased the revenues of the hospitality and hotel sector, in addition to the real estate sector.The new financial solutions offered by Housing Ministry have contributed greatly to increasing demand, while the rental market continued to provide lucrative returns. (ICE Doha)

Fonte notizia: Gulf Daily News