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Office rents in Bahrain fall sharply

Office rents in Bahrain have reduced by 20 percent…

November 9, 2009 4:42 by

Office rents in Bahrain have reduced by 20 percent this year because of decreasing demand, according to a report released by property consultancy CB Richard Ellis (CBRE). The report said that the rates mainly declined during the summer and Ramadan.

During the third quarter of the year, the country’s residential sector saw “little movement in terms of prices, rental rates or transaction activity,” the report said, adding that “mortgage rates in Bahrain are prohibitive and this will naturally stunt the market until liquidity and appetite for mortgage business returns to the banking sector.”

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