Meanwhile, sales rates stayed relatively constant on an annual basis compared to Q2 2022, with apartments remaining unchanged and villa rates softening by 0.2%. In terms of villas, there were marginal changes in rates in Q2, with quoted rents falling by 1.0% and sales increasing by 0.6% compared to Q1. The highest rates continue to be seen in the Capital Governorate, although the Muharraq Governorate is beginning to close the gap, with newly delivered quality assets achieving higher rates in the likes of Diyar Al Muharraq and Dilmunia. Looking at Bahrain’s residential sector, average quoted apartment rents increased by 2.1% in Q2 across governorates compared to Q1, while quoted apartment sales rates fell by 1.1%. This marks an increase of 7.1% year-on-year, but a decrease of 16.7% compared to last quarter, which is likely due to Ramadan and both Eid holidays falling during Q2. Manama – Real estate transactions in Bahrain totalled 5,279 in Q2 2023, according to SLRB data.
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