How Expats Can Buy Property in Bahrain?

How expats can buy property in Bahrain?

Living in Bahrain puts you at the center of the GCC, the regions economical and transportation hub. If anyone is looking for residence permit option in Bahrain for the long term, buying property in Bahrain is now an option for expats.

Who can get residence permit in Bahrain?

1) Expats who has property purchase of 50K BD or more in Bahrain

2) Retired foreigner – worked for 15 years or more in Bahrain

3) Foreign investor – invests 100K BHD or more in a Bahraini company

 

Property requirements:

 

As an expat, you must buy property valued at 50,000 BD or more.  Generally, properties built on reclaimed land or in touristic areas.  Rule of thumb is that if you are buying apartments; go for buildings of 10 stories or more as there are specific requirements for property for this type of visa.

You want to go for properties which have a “Title deed’ or are “Title deed ready” i.e. the title deed for your property has been issued after being split from the developer’s mother title deed.

BENEFITS:

 

  • Foreign property owners in Bahrain have the right to proclaim a self-sponsorship residence permit by law. However, in order to issue a residence permit, the value of the purchased property must be over BHD 50,000.

 

  • Buy a property in Bahrain and your capital will keep on accruing more value by time. Property prices are on the rise in many areas, especially freehold areas where demand is powerful.

The earlier you snatch a real estate opportunity, the better return on investment you will secure

  • High rental income

Bahrain’s rental market provides stable, steady income. Gross rental yield is among the highest in the GCC and a major reason for interest in our freehold market (REMI Global 2017), along with zero taxation on rent and property.

  • Bahrain is the only country in the Gulf where developers can benefit from 100% foreign ownership, making it one of the best places to invest in real estate in the region for investors from outside the GCC

 

  • Easy monetization

Due to high population density, it’s easy for property owners to find buyers and sell their properties to liquefy their held assets.

Visa Advantages of Buying Property in Bahrain

 

In addition to the investment and accommodation benefits of owning a property in Bahrain, it could also be a benefit for your right to visit and stay.

This not only lasts for five years but can also be extended on request. While the visa remains valid, you will be free to come and go at your pleasure. Your spouse and children fewer than 18 are also covered by the visa as long as they only live in Bahrain and don’t seek employment there.

If you sell the property at any time, the Self Sponsorship Residence Permit will be cancelled, regardless of the validity period remaining.

If you have enough savings or loans available, buying a property at home to rent to others can be a good solution. You then know you have a roof over your head when you return.

 

Where Can You Own?

 

You can purchase property in approved freehold areas of Bahrain listed below.

  • Juffair
  • Amwaj Islands
  • Durrat Al Bahrain
  • Seef
  • Bahrain Bay
  • Abraj Al Lulu
  • Riffa
  • Reef Island
  • Saar
  • Diyar Al Muharraq

How Era Helps You For residence Permit?

 

Era has amazing loan schemes for those who are looking to own residential properties in Bahrain. As majority of our properties are freehold, foreigners can also by Era units by meeting the loan requirements as per banks. We offer endless support to sanction your home loan at attractive interest rate with minimal documentation.

Lease-To-Own plans are available for those who plan to buy a house in one of the Bahrain cities to get a residence permit or use it as an overseas residence.  We’ve got you covered from the basic documents required to prepare a tenancy contract to everything you need to register. Basically Era team will assist you with all procedures and documentation steps you are required to complete.

We offer Lease-To-Own offer for our brand new luxury apartments in Era View, which is located in Hoora. Rent-to-own plans are available for BD 450 and BD 900 down payment schemes.

LTO (Lease to Own) apartment, payment modes and procedure is as follows.

Rental payment of BD 450 / BD 900 every month for 36 months (3 years) and upon finishing of 3 years of lease/ rent, tenant has to decide whether they will pay the rest of whole amount of property through bank loan or payment in full cash.

 

Documents Required For Obtaining Residence Permit In Bahrain

A.     Foreigner who owns a property in the Kingdom of Bahrain:

 

  1. Application Form
  2. Clear copy of the Passport & Identity Card
  3. Good Conduct Certificate
  4. Title Deed stated that the value of the property owned by the expat is not less than BD 50,000
  5. Health insurance issued from the Kingdom of Bahrain
  6. Certificate from the Bank confirming that the applicant has a fixed deposit of no less than BD 15,000 in one of the Kingdom’s financial institutions. The applicant must resubmit the certificate every 6 months.
  7. Applicant should have a legal source of income sufficient enough to support himself and his dependents and should not be less than BD 500.
  8. Copy of the previous residency in case or renewal

B.     Foreigner Investor:

 

  1. Application Form
  2. Clear copy of the Passport & Identity Card
  3. Good Conduct Certificate
  4. Copy of the Lease Agreement
  5. Company’s Article of Association stating that the expat’s share is no less than BD 100,000
  6. Health insurance issued from the Kingdom of Bahrain
  7. Certificate from the Bank confirming that the applicant has a fixed deposit of no less than BD 15,000 in one of the Kingdom’s financial institutions. The applicant must resubmit the certificate every 6 months.
  8. Applicant should have a legal source of income sufficient enough to support himself and his dependents and should not be less than BD 500.
  9. Copy of the previous residency in case or renewal

Visit https://www.erabahrain.net/ for exploring through the diversity properties.

Things Every One Should Know About Real Estate Bahrain

According to estimates global real estate industry are booming and going to exceed 160 Billion dollar in 2021! Real estate industry is rejuvenating after continuous tearing up.

The reports showing that August, September were the lowest months historically for secondary sales because of the lock down in Bahrain, but since the easing in restrictions, secondary residential real estate sales have been on the rise peaking highest on December.

Another factor behind the growth is the change in circumstances the pandemic has brought for many Bahraini citizens. There are people who are working from home and have their children learning from home, meaning they need more space.

Real estate industry is such a vast area. It is not a silly process to buy or rent a property in Bahrain. Customer should very well observe pros and cons of a property they are going to buy or rent. But there are few developers who’s vision is selling quality in whatever circumstance, from those any one could buy properties without a detailed research.For expatriates there is some extra rules and regulations regarding property buying and selling.

One of the giants in Bahrain real estate industry Era real estate properties, published diversity of news letters with respect to apartment for rent & sale in Bahrain considering the pandemic. Whether it is property for rent in Bahrain or property for sale in Bahrain, anyone can choose from thousands of properties in the best land mark areas of Bahrain.

Here some frequently asked questions of people regarding real estate are included for better understanding.

What is the difference between a real estate agent and a real estate broker?

Most states require real estate sales professionals to be licensed by the state, so that they can control education and experience requirements and have a central authority to resolve consumer problems.

The terminology used to identify real estate professionals varies a little from state to state. Brokers are generally required to have more education and experience than real estate salespersons or agents.

The person you normally deal with is a real estate agent or salesperson. The salesperson is licensed by the state, but must work for a broker. All listings are placed in the broker’s name, not the salesperson’s.

A broker can deal directly with home buyers and sellers, or can have a staff of salespersons or agents working for him or her.

Why should I use a real estate salesperson?

A real estate salesperson is more than just a “sales person.” They act on your behalf as your agent, providing you with advice and guidance and doing a job — helping you buy or sell a home. While it is true they get paid for what they do, so do other professions that provide advice, guidance, and have a service to sell –such as Certified Public Accountants and Attorneys

The Internet has opened up a world of information that wasn’t previously available to homebuyers and seller. The data on listings available for sale is almost current — but not quite. There are times when you need the most current information about what has sold or is for sale, and the only way to get that is with an agent.

If you’re selling a home, you gain access to the most buyers by being listed in the Multiple Listing Service. Only a licensed real estate agent who is a member of your local MLS can get you listed there — which then gets you automatically listed on some of the major real estate web sites. If you’re buying or selling a home, the MLS is your agent’s best tool.

However, the role of an agent has changed in the last couple of years. In the past, agents were the only way home buyers and sellers could access information. Now agents are evolving. Because today’s home buyers and sellers are so much better informed than in the past, expertise and ability are becoming more important.

The real estate agent is becoming more of a “guide” than a “salesperson” — your personal representative in buying or selling a home.

If someone is in search of premium luxury apartments in Bahrain, Era has the bestest premium apartments in seef, at the iconic Era tower itself. Sales person here will assist from A to Z procedures of buying properties and it’s rules and regulations.

Visit https://www.erabahrain.net/ for exploring through the diversity properties.

Get in touch

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+973 6500 0000

Block no: 361, Road no: 1705, Building no: 361, Floor no: 29, Flat no:291 Diplomatic area

email

adminsales@erabahrain.net

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