Q4 2024

01Overall market

Bahrain's market stayed resilient in 2024 despite a slight contraction. Volumes eased 4.82% to 24,863 deals and value edged down 1.64% to BHD 1.06 billion after a peak 2023. Muharraq led on sales value at BHD 382.4 million while the Capital Governorate recorded the most transactions at 2,825. Land sales dominated activity with 3,549 deals worth BHD 755.4 million.

02Residential

Apartment rents saw stability with moderate adjustments. Bahrain Bay and Harbour held its premium position with three-bedroom units at BHD 1,250, Reef and Seef stayed strong, and Juffair and Amwaj offered value for mid-range tenants.

03Retail and office

Prime retail held firm: Bahrain Bay and Harbour at BHD 12.22 per sqm, Seef at 10.26, Adliya and Juffair at 10.19, and the Diplomatic Area more competitive at 7.59. Office rents balanced demand and affordability, led by Bahrain Bay and Harbour at BHD 7.00 with Seef and the Diplomatic Area around 5.3 to 5.4.

04Industrial

Warehouse rents rebalanced across the zones: Hidd at BHD 2.74, Sitra 2.40, Ras Zuwaid and Askar 2.62, with Salmabad and Tubli leading at BHD 3.19 on renewed industrial activity.

05Land

Land followed a clear zoning hierarchy. Industrial rose to BHD 20.45, residential held at 28.60, and premium zones led with BA at BHD 75.00 and BB at 65.87.

06Hospitality

Hospitality strengthened through 2024 on tourism campaigns and steady visitor demand: occupancy 54.85% (from 52.88%), ADR BHD 63.80 (+3.76%) and RevPAR BHD 37.07, up 8.36%. November peaked at 66.97% occupancy.

07Outlook

Off-plan sales stayed attractive to a diverse investor pool, led by foreign buyers (248 transactions worth BHD 26 million) and GCC nationals (228 worth BHD 34 million). The 2025 outlook is steady, high-value-led growth.

A resilient 2024: slightly softer volumes and values, stable rents, and a clear step up in hospitality performance.