Categorized | International

Bahrain Continues Recovery After Dealing with Unrest

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For the first half of this year, Bahrain saw its housing market take a nosedive after bouts of civil unrest. However, with the government finally able to once again focus on basic issues as housing, the property market is starting to show improvement.

With the overall GDP expected to demonstrate strong growth at the end of this year, and throughout next year, there are plans to develop a significant number of new housing units for the Kingdom. One property consultant has taken the initiative to develop as many as fifty thousand housing units, thanks in part to a piece of government policy.

The fifty thousand housing units planned would specifically target those making less than a set income of nine hundred Bahrain dollars monthly. Those with a slightly higher income would qualify for low interest loans, making the thought of buying housing more attractive.

With prices down in the region, and demand in the property market starting to increase, even commercial business are looking to move to newer locations. One of the reasons for the desire of many businesses to move from their current location is that the influx of newer buildings has made it possible for them to move to the newer, improved buildings at a rent that is equal to, or less than they are paying in their older building.

The government of Bahrain has promoted such conditions, particularly with respect to the lower lending rates and prices. It hopes to attract a higher quality professional client base, and believes that the best way to do so is to provide rates so attractive that businesses and wealthy homeowners will flock to the Kingdom.

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About Nancy Raven

Nancy is the main writer for the International section of the website. Sometimes she also helps Drew out on the Finance/Mortgage section as well.

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