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Bahrain Property Market - Q4 2023

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Contacts & Related Research

Macro Highlights

  • Bahrain recorded 2% y-o-y real GDP growth in Q2 2023, supported by a 2.0% increase in the non-oil sector and a 2.2% increase in the oil sector. The economy is now expected to grow by 1.8% y-o-y in 2023 from the high of 4.9% witnessed in 2022.
  • Bahrain’s re-exports increased by 4% to BD184 million during Q3 2023, compared to BD177 million in Q3 2022, as per the Information and eGovernment Authority (iGA).
  • Bahrain’s fiscal breakeven price for Brent oil is around USD 108 per barrel for 2023, according to the IMF. However, despite the voluntary output cuts agreed upon by OPEC+ oil producers in November, Brent oil prices have fallen to less than USD 74 per barrel. As a result, S&P has revised Bahrain’s outlook to ‘stable’ on the fiscal deficit worries.
  • Bahrain’s Information and Communications Technology (ICT) sector has attracted BD111 million in direct investments during the first nine months of 2023.

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