Recognized as the crucial economic hub in the region, Bahrain is home to numerous global businesses. On top of that, it’s also the most liberal country in the Gulf, mixing traditional values with the modern, it being a melting pot of different cultures. For this reason, it has become a promised land for ex-pats all around the world. If you’re also drawn to the opportunities the Kingdom presents, here’s our guide to help you find a home in Bahrain.
Renting – convenience and freedom
Of course, if you’ve just arrived here, it might be sensible to start by renting a home in Bahrain. That way, you can have your testing ground and the freedom to get to know the area a bit more. Thankfully, this being a country on the rise, the real estate market is booming. This means that you’ll have a large pool of different types of apartments to choose from.
Another benefit of renting an apartment in Bahrain is a simpler procedure regarding paperwork. And, finally, you always have the freedom of leaving and moving to a different neighborhood due to job change.
Owning – thinking long term
On the other hand, if you’re already living in Bahrain and plan to stay here, buying a property is the optimal solution. You might even be interested in investing in rental property, as many foreigner do. Whatever your reason is, you need to know that there are certain restrictions regarding the areas where you can purchase a home in Bahrain.
Keep in mind, however, that you might need to hire a professional lawyer to help you deal with the paperwork. This is just as necessary as hiring a reputable moving company like fourwinds-bahrain.com to assist you during the relocation to your new home.
The price factor of buying vs renting a home in Bahrain
Now, deciding whether to rent or buy a home in Bahrain isn’t an easy decision, we get it. There are many factors at play, from location to, most importantly, the amount of money you’ll be paying. Are you moving here from the US? Then you’ll be glad to know that here you’ll be paying four times less money on average when it comes to renting. Indeed, an apartment in an expensive area will set you back around $1400 or 528 Bahraini dinars. Owning a home will here is more affordable than in other Gulf countries, with around $2,200 per square meter. The greatest benefit of investing in property will be that the value will increase over time, so you’ll be spending your money wisely.
Consider both options
In the end, this decision comes down to your individual needs. The amount of money you plant o invest in a home in Bahrain is a crucial factor as well. There are pros and cons to both options – you can easily rent out a property in a good location, while homes for ex-pats are usually located on the outskirts. So, it’s all about making compromises. That being said, look at both options from different angels before you jump the gun.