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His Excellency Shaikh Salman bin Abdulla: 14% Increase in the Number of Real Estate Transactions. Volume of Real Estate Trading Exceeds BD 200 million
The President of Survey and Land Registration Bureau (SLRB) His Excellency Shaikh Salman bin Abdulla Al Khalifa said that the number of Land Registration transactions had increased by 14% during the first quarter of this year, jumping to about 6,762 (six thousand seven hundred and sixty two) transactions up from about 5,920 (Five thousand nine hundred twenty) transactions last year.
The total volume of trading in real estate during the first quarter of this year 2019 amounted to BD215,056,226 (Bahrain Dinars two hundred and fifteen million and fifty six thousand two hundred and twenty six) compared to about BD226,064,262 (Bahrain Dinars two hundred and twenty six million and sixty four thousand two hundred and sixty-two) last year 2018, a decrease of about 5%.
His Excellency Shaikh Salman said that SLRB has introduced a new land registration system that increases the speed, accuracy and quality of processing the transactions, and thus reduces waiting time. The transfer of the ownership of a property now takes only one day if the details of the transaction were entered into the system before ten o'clock in the morning. He added that “we are currently considering the introduction of other electronic systems in the registration process in order to reduce waiting times to less than that”.
The following table shows the details of real estate transactions made by Bahrainis, Gulf nationals and foreigners during the first quarter of 2019 compared to the same period last year 2018:
| Nationality |
RealEstate Trading in Q1 of 2019 |
Percentage |
Real Estate Trading in Q1 of 2018 |
Percentage |
Difference 2019-2018 |
Percentage of Increase |
| Bahrainis | 195,265,987 | 91% | 203,836,203 | 90% | -9,570,135 | - 4 % |
| Gulf Nationals | 12,226,932 | 6% | 13,670,642 | 6% | - 1,443,710 | - 11 % |
| Foreigners | 7,572,307 | 4% | 8,557,498 | 4% | - 985,191 | - 12 % |
| Total | 215,065,226 | 100% | 226,064,262 | 100% | -10,999,036 | - 5 % |
The following table shows the number of transactions processed by the Survey and Land Registration Bureau during the first quarter of 2019 compared to the same period of 2018:
|
Number of Sale Transactions First Half of 2018 |
Number of Sale Transactions First Half of 2018 |
Difference Between the Number of Sale Transactions in 2018-2017 |
Difference % |
| 6762 | 5920 | 842 | 14% |
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