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A GUIDE ON HOW TO BUY PROPERTY IN BAHRAIN AS AN EXPATRIATE.

The Real Estate sector in Bahrain is moving in the right direction and over the past few years, investor confidence has been on the rise. The proof of this lies in the numerous freehold projects across Bahrain in Seef, Amwaj Islands, and Juffair etc. Bahrain has a buoyant real estate sector that’s complemented by a thriving energy sector and a host of governmental initiatives aimed at improving the local infrastructure and facilitating the local market.

However, when it comes to real estate, most expats who have not lived in Bahrain for long, feel lost as to how to go about the process of buying property in Bahrain- This is meant to provide some insight, precautions, and direction.
•The First step is to always find competent real estate agents who are experienced in the kind of property you are interested in. Speak to as many agents as possible and try to hear different opinions before you make any commitments.

• Do your research in terms of which area you should buy your property in. The more you educate yourself about the different cities and areas in Bahrain, the easier it will be to speak to agents in those areas and extract more value from your conversations with them.

• Regularly visit real estate portals for properties for sale in Bahrain.

• It’s advisable to steer clear of Freelancers who dabble in property brokerage as a part time job to make some extra money on the side. The reason for this is that they might not have correct or detailed information about the properties they are trying to sell. Buying a property is a considerably big decision and you are better of working with a broker that has a real estate license, has been around for while and is experienced in dealing with the type of property you are interested in.

• Once you have a few properties to consider, ask questions about the property’s history and its previous owners.

o Ask who lived there before
o What price was it rented at or sold at before
o Get a sense of the prices of the properties in the same neighborhood. The idea is to benchmark the prices so that you have a sense of whether you are getting a good deal or not.
o Ask around / do your research about other significant projects in the area that might affect the value of your property.
o Try to find out if there are any infrastructural projects being planned in the area that might affect the value of your property – airports, roads, ports, malls etc.
o If you are planning on living there, it’s also important to consider how far it is from schools, parks, clubs, malls and your work place etc.

See properties for Sale in Juffair and Seef Area Also see Era Real Estate listing of Flats for Sale in Manama

• If you plan on buying the property as an investment and then renting it out, you may want to consider asking yourself the following questions:

o Will people like to live in this place?
o From a tenant’s perspective, are there any other areas or neighborhoods nearby that are being rented out for a lower price?
o What’s the overall return on investment given the average rent of the place?
o How much will it take you to maintain the property? Factor this into your calculations when calculating ROI?
When it comes to buying property in Bahrain, it’s important to take the following precautions.
o Always ask for a receipt against any and all payments
o Make sure you have the original copies of all the paperwork.
o Keep all correspondence well documented.

Buying property is a decision you should not be hastened into. Take your time, do your research, have candid conversions with your broker, communicate expectations and feedback clearly and always rely on trusted real estate brokers with a proven track record.

Apartment for rent in Bahrain

Paying for your Bahrain property.

Mortgages Paying for your Bahrain property

Bahrain has over 400 banks and financial institutions, including insurance companies and Islamic banks. You should be able to find a bank that will give you a mortgage at a reasonable rate.

Mortgages

Many banks in Bahrain are international or have a significant presence in other Gulf states. Both international banks like HSBC and Standard Chartered and Bahrain banks such as Bahrain Islamic Bank and Arab Bank Bahrain will sell mortgages to foreigners.

You will need to provide a lot of paperwork in order to take out a mortgage. Some banks have more requirements, such as home insurance, but in general they ask for the following basic documents:

  • passport or driver’s license
  • CPR card (Bahrain identification document)
  • bank statements from previous three months
  • proof of income
  • sales/purchase agreement

Your mortgage amount and how long you have to pay it back depend on the bank. However, you can expect a maximum of 80% of your property purchase price, paid back over 25 years.

BBK announced Strategic Partnership with Era Projects Bahrain.

BBK, Bahrain’s pioneer in retail and commercial banking, announced today that it has signed a Memorandum of Understanding (MOU) with Era Projects, initiating a strategic partnership agreement, through which BBK will provide mortgage financing to the customers of Era View Tower located in Al Hoora.

Era Projects, a Real-Estate Development company based in the Kingdom of Bahrain, offers residential projects in the Kingdom’s fast growing capital with an aim for modern and comfortable living.  Under the terms of the agreement, customers of the Era View Tower who require funding in the form of mortgage loans will be advised to consider BBK being the end user funding partner.

Announcing the strategic partnership, Mr. Mohammed Malik, BBK’s Deputy Chief Executive, said: “In our continuous efforts to provide our customers with the best services and to facilitate the sale of the residential projects, we are pleased to enter into a strategic partnership with Era Projects that has been offering modern residential solutions which our customers can benefit from.  In return, customers from all nationalities residing in the GCC who wish to own a property in Era View Tower will enjoy excellent interest rates and loan terms from BBK.

Mr. Abdulhussain Ghuloom, Era Projects’ CEO, said: “We are delighted to initiate this partnership with BBK which I believe, is a step towards a new era of convenience for our customers where the main goal is to combine our offers at the Era View Tower and the financial solutions provided by the bank. We hope that this partnership marks as a beginning to many more collaborations with the Bank.”

Customers who are interested to own a residential property in Era View Tower are welcome to apply for a mortgage loan with BBK.

You would also be interested in:-

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7 Signs You’re Ready to Buy Your First Home

7 Signs You’re Ready to Buy Your First Home

The real estate market in Bahrain is a very active one, and investing in a property for sale in Bahrain is a very beneficial opportunity. Or maybe you are looking to buy a house in your home country? While renting is also another option that can be long-term, many people are now choosing to own their home. Are you one of those people? Read on for signs that you’re ready to buy your first home.

1. You have enough money for the down payment:

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There are a number of costs that are associated with purchasing a home, but of course, the biggest one is your down payment. Are you able to make the down payment with minim disruption to your everyday life?

2. You have a 6-month backup fund:

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Being a homeowner comes with a number of unexpected costs, and as well, you never know what life can throw at you! You should always have a safe amount to fall back on, should you need some additional money on hand, or have a few unexpected payments.

3. You can calculate your household income for the next few years:
One of the major parts of the financial planning that comes with homeownership is being able to predict is how much income the household will bring in for the next few years. Of course, it will be hard to have an extracted amount, but knowing the general trend of your income should play a big role in your home purchasing process.

4. You have a steady job:
This is something that is sometimes difficult to be certain of, but it always helps to know that you have a secure and steady job. This will also help with your loans and mortgage approvals, but will also give you peace of mind as you commit yourself to a purchase as important as a home.

5. You have children, or are planning for them:
This is not to say that singles and individuals are not ready to be a home, but having a family is an extra push to become a homeowner. Families with kids are more prone to settling down and also purchasing a home can also help in securing their children’s future as well.

6. You are tired of renting:
7 Signs You’re Ready to Buy Your First Home 1

Making rental payments can be daunting, especially when you realize that you are paying into something that isn’t even yours! Have you begun calculating just how much you’re putting into someone else’s property?  You will probably reach a point where you believe that purchasing a house makes more sense for you than continuing to rent.

7. You can afford repairs:
7 Signs You’re Ready to Buy Your First Home 2
Repairs are part of ownership, whether you decide to live in the house yourself or buy it as an investment.  As a tenant, your landlord is usually responsible for any repairs, but as an owner, you will have to get all that done. Can you afford it? Have you calculated an average amount as to how much it would cost to make continuous repairs? If you have, then you are on the right track!

Click here to view properties for sale in Bahrain  

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Top Five Affordable Neighborhoods in Bahrain – Rent apartment in Seef

Top Five Affordable Neighborhoods in Bahrain.

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Here are our picks for the most affordable areas in the country. propertyfinder Bahrain

1. Isa Town:

Popular for its traditional markets and shops, you get the best of both worlds in Isa Town, as the modern way of life blends perfectly with Bahraini traditions. While you may find a number of villas at a good price, apartments at a low price are also available.

2. Al Hidd:

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In Al Hidd, you will be able to find studios and apartments at a reasonable price, helping you save some money on rent. Al Hidd is also well-liked for its central location, so is also a great option for anyone looking to be connected to the city!

3. Al Janabiya:

Somewhat further out of the city, Al Janabiya also offers a number of homes within a reasonable budget. It is still easily connected to focal points in the country and offers many options when it comes to housing.

 Rent apartment in Seef

4. Gudaibiya
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Homes ranging from one to three bedroom apartments can be found in Gudaibiya at a reasonable price. It is also popular due to its prime location, offerings homes for a budget in the city’s centre.

 Rent apartment in Seef

Al Hoora:

Another district of Manama that offers budge housing, Al Hoora offers a variety of homes ranging in size and style that won’t break the bank!

Click here to find properties for rent in Bahrain 

apartment for rent in Bahrain

Buying Property in Bahrain

Guide: Buying Property in Bahrain

Buying Property in Bahrain 3Recent changes in Bahrain Real Estate laws now permit residents to invest and purchase properties for sale in Bahrain. For those who are looking for an attractive investment opportunity, here’s what you need to know.

  1. As a foreigner, can I buy property in Bahrain?
    Yes, you can. However, you can only purchase freehold properties. Before you take any steps in that direction, consult with your real estate lawyer or office about the areas where foreign property ownership is allowed.
  2. Where can I buy?
    Whether or not you are a resident of Bahrain, foreigners can invest in properties in the following areas: Ahmed Al-Fateh, Hoora, Bu Ghazal, Seef, Northern Manama, Durrat Al-Bahrain, Amwaj Islands, and Dannat Hawar.
    Buying Property in Bahrain 4
  3. Tell Me about taxes:
    While Bahrain is a tax free country, foreign property owners must pay 10% municipal tax on properties.
  4. What about residency?
    As an owner of a freehold property, you are entitled to a 5 year self-sponsorship, which can be renewed. You are also entitled to a Residence Permit that allows you to sponsor your spouse and children (those who are under 18 years of age).
  5. And then?
    Once you have decided on a property and agreed with the owner regarding the price, you will then sign a reservation agreement, which means that the seller cannot sell the property to anyone else. You will then sign the sales agreement, and most probably provide a down payment. This agreement will detail the payment structure and schedule. Once full payment has been made on the property, you will receive the title deed. Keep in mind that the agreement must be notarized at the legislation court and the property needs to be registered with the Bahrain Survey and Land Registration Bureau. Registration fees vary from 1.5% – 3% depending on property type and price.

Please ensure that you consult with an attorney or real estate office before signing any legal documents or taking any steps in buying property in Bahrain.

For a complete list of available properties for sale in Bahrain, click here

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Find the Right Apartment for Rent and Sale in Bahrain

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Important Factors to consider when Buying an Apartment in Bahrain

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When Renting or Buying property becomes difficult, even at the best of times. With so many elements making up a move, transference can quickly become overwhelmed and struggle to make a confident decision when choosing a property. Here, we have put together our list of top 8 factors to consider when choosing a property to rent or purchase: Apartment for rent

 

1. LOCATION, LOCATION, LOCATION!

Choosing the right location to rent or purchase is everything. A property in an area that is well connected in terms of public transport will cost more than a similar house in a quiet suburb. The type of neighborhood is also important – university towns, for example, will have a huge student population and lively nightlife. Not ideal if you are looking for a quiet and peaceful location to live in or have a family.

2. SCHOOLS

If you have children, finding the right school for them is critical. Make sure you do sufficient research on all the schools in your target housing area to ensure they have a “good” or “outstanding” OFSTED report. Likewise, if you don’t have children and choose a property near to a school, expect a larger volume of traffic in the morning and afternoon during the “school run” as well as an evening or weekend events. It is also worth noting that property prices in close proximity to a school will be much higher than those outside a catchment area.

Apartment for rent in BahrainAAAApartment for rent in Bahrain

3. AMENITIES

Check any potential neighborhood for parks, supermarkets, shopping centers, gyms, and leisure centers etc. Having to drive 15-20 minutes to your local shop or supermarket can become a frustrating and cumbersome chore.

4. BUILDING PERMITS AND FUTURE DEVELOPMENT

The local council’s planning department will have information on all new developments that are up and coming. New shopping centres, housing developments and business parks are a good sign of growth in your neighbourhood, however, be cautious of new developments that can take months, if not years to complete. This will result in unsightly construction sites, lower air quality and increased noise levels.

5. CRIME

No one wants to live next door to a hot spot for criminal activity. Going to the local police station or library in your target housing area will ensure you get unbiased and accurate crime statistics, rather than asking the homeowner or estate agent who is hoping to secure a deal. Consider asking about the frequency of police presence or a neighbourhood watch in any area you consider living.

6. SPACE

Choosing an apartment in the city centre can mean a great location and views, but is there enough space for you to live? When choosing a property, spend time considering if there is enough room for your furniture and belongings. If you have a road bike for example, is there somewhere safe and secure for you to store it?

7. PARKING

If you will be commuting to work or taking your children to and from school by car every day, a car parking space is a must. Where you live and what sort of property you choose will have an effect on the type of parking available. A family home in the suburbs will often have its own private driveway, whereas a home in the city center may only have off-street residents parking, which won’t guarantee you a parking spot every day. Residents’ parking also comes at a cost and a permit will need to be purchased from the local council.

Apartment for sale in Bahrain

8. PROPERTY MANAGEMENT

If you are renting a property, a company or individual will be the “property manager” and they will be your first point of contact if there are any maintenance issues during your Tenancy. The property manager could either be the Landlord, the Estate Agent, a property management company, or another individual e.g. the Landlord’s parents. If possible, request the property manager to be the estate agents or a management company, as any maintenance issues will likely be fixed much quicker than by a landlord, who may live abroad, or a parent or child of the landlord who is busy or unavailable. Era Projects W.l.l

 

Era Pojects

Message From C.E.O

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MESSAGE FROM THE CEO AND FOUNDER:-

Mr. Abdul Hussein Khudr

The Kingdom of Bahrain is entering a new era,  where a huge boom in the real estate sector is witnessed and we as Era Projects seriously consider ourselves fortunate to be part of this prosperity.

Era Projects core value is demonstrated by our deep understanding of what commitment and trust mean. We translate those meanings into each and every project we develop to guarantee the highest degree of quality that will certainly reflect our image and believes in the market.

Moreover, our task is not merely developing projects that only design an entrance into the world of luxury and comfort that certainly each of our clients will sense, but it is to create a magnificent experience for those clients by engaging them in creating their own place (whether it was residential or commercial) based on their preferences, thus presenting what “Home” actually means.

 

Furthermore, we always thrive to go beyond our client’s expectations, therefore, all of our projects are selected and chosen carefully. After a thorough study of the regional and international market to ensure absolute satisfaction and total well-being of our clients as well as seizing any opportunity available that would add more value to our clients’ welfare.

Additionally, our main objective here in Era Projects is to deliver what the market needs through our professional team that is motivated to produce innovative ideas and encouraged to plan strategies that guarantee the flourish of Era Projects.

In Every Year Era Projects redefines the real estate sector standards in the Kingdom of Bahrain, Every year a great set of values are added to the market and a new era will always begin with Era Projects W.l.l.

Finding the Right Property for Sale in Bahrain.

FACTORS TO CONSIDER BEFORE PURCHASING 

AN APARTMENT

FOR INVESTMENT PURPOSES.


Apartment for sale

  • Are you looking for an Apartment for sale? Choose the zone you need to purchase a loft. This may including investing some energy around there or if nothing else doing some exploration at home.
  • Before you purchase, inquire about the business sector to ensure you are getting esteem for cash. Converse with free Property managers and real estate operators, and check late deals in the zone. Try not to depend on exhortation from the designer or their operator. This is especially imperative on the off chance that you are purchasing off the arrangements. You need to realize that the estimation of the completed condo will reflect at any rate what you paid.
  • Visit the greatest number of spots as your searching for properties that fit your criteria, so you’ll have a smart thought of what your cash purchases.
  • Presently suppose you’ve found a flat …
  • Watch that the property you are occupied with is near the spots you require, for instance, shops, open transport, parks, doctor’s facilities, schools, work, exercise center, and so forth – A significant tip in the event that you need to acquire some time.
  • When you live in a loft consider whether the building is near clubs, bistros or other unrecorded music venues. What is the measure of passing movement – will it be boisterous at pinnacle hour ? Will the commotion influence your way of life? It is a smart thought to mastermind a review of the working amid the night or amid pinnacle hour activity before you consent to the buy. – Now I have a flat close to a relentless bar, and every once in a while people get intoxicated during the evening and make a ton of clamor.
  • How old is the building? You ought to consider the age of the building.Are any offices prone to require repairs or substitution? It is unequivocally prescribed that you get a modeler or designers report on the working before choosing to purchase.
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Era Holiday Party 2016

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First ERA Holiday party celebrated on 22nd

December 2016 at Party Hall,

Era Tower, Seef District.

Apartment for sale

We have so much to offer the Kingdom of Bahrain Era View being our ongoing project.

Era View is located along Al Fatih Highway in The Kingdom of Bahrain, Apartment for sale The Tower is just on opposite side of  #Dolphins Park, which gives the Tower uninterrupted Sea and city view scenery.

The Tower will consist of 2 floors of facilities which will engross:- swimming pool, gyms for men & women, steam, bath, sauna, jogging path, squash court, indoor lucid area & a mini theater (Cinema Hall.) being Centrally Located has also given the Tower easy access to your favorite hangouts Hotels, shopping malls, a splash in a beach, dine in the nearby restaurants, relax in the coffee shops & even more!

Not forgetting the Tower is just 6 mins away from Bahrain National Theater, Bahrain National Museum and in this hot weather, a Fun land center for indoor Ice skating and bowling Games.

For inquiries and bookings please call. Or you can use the contact page of Era Bahrain.

Project Details Including

  • of floors 37
  • Of apartments 224
  • Apartments Sizes (70sqm, 64sqm, 61.5sqm, 61sqm).
  • Reachable sights ( Sea & City view)
  • Gigantic reception ( with an immense girth)
  • Car Parking from 1 – 6th
  • 9-37th floor ( Typical Apartments)
  • Four high-speed elevators.

To be completed in October 2018.

Your life contains a series of heights. 

Apartment for sale in Bahrain

Apartment for sale in Bahrain – Era Projects and BBK

Era Projects and BBK Celebrate Their Successful Business Relationship

Apartment for sale in Bahrain

Era Projects handed a trophy over to the BBK thanking them for their excellent business relationship over the past year.

We as ERA Projects Bahrain, we appreciate BBK’s way of dealing with us and our clients and we felt it was only right to thank them for their professional service and the successful year we had with them.

BBK seals mortgage finance deal with Bahraini developer

MANAMA, December 4, 2018

Era Projects Bahrain said it has signed a strategic partnership deal with Bahraini bank BBK, Era Projects is a major developer of residential projects, to provide mortgage financing for its Era View Tower in Hoora area of the kingdom.

Located along Al Fatih Highway right in the heart of Bahrain, The Era View Tower boasts two floors of premium facilities for modern and comfortable living of its tenants.

The key amenities include swimming pool, gyms for men and women, steam, bath, sauna, jogging path, squash court, indoor lucid area and a mini theater (Cinema Hall.)

As per the agreement, BBK will be providing mortgage financing services for the customers of Era View Tower.

“In our continuous efforts to provide our customers with the best services and facilitate the sale of the residential projects, we are pleased to enter into a strategic partnership with Era Projects that has been offering modern residential solutions which our customers can benefit from,” remarked BBK deputy chief executive Mohammed Malik.

“Customers of all nationalities residing in the GCC and wishing to own a property in Era View Tower will enjoy excellent interest rates and loan terms from BBK,” he added.

Being centrally located, the Era View tower offers easy access to major hotels and shopping malls.

The tower, which is just on the opposite side of Dolphins Park, gives the tenants uninterrupted sea and city view scenery. Besides, for them, it’s just a walk away for a splash in a beach or dining in the nearby restaurants or relaxing in the coffee shops.

Era Projects CEO Abdulhussain Ghuloom expressed delight at the partnership with BBK.

“This is a major step towards a new era of convenience for our customers where the main goal is to combine our offers at the Era View Tower and the financial solutions provided by the bank.