Bahrain Property Positively Promoted by Star’s Latest Purchase

Bahrain Property Positively Promoted by Star's Latest PurchaseHave you ever considered adding Bahrain to your list of emerging property markets to examine?  Well, maybe you should: it seems interest in real estate in this Middle Eastern tax haven is intensifying after it was rumoured that Michael Jackson has begun buying land in Bahrain.

The rumour has yet to be substantiated but already the media interest in the story has pushed up the profile of this Persian Gulf destination and all eyes are on property in Bahrain and what it can offer in investment terms.

The country is a kingdom and it was a former British territory, one that achieved independence back in the 1970s.  Laws in the country are based both on Islamic law and British Common Law.  Bahrain is a politically and economically stable and relatively moderate country which has recently forged solid links with America and which seeks to build on its good reputation with surrounding Middle Eastern countries including its neighbour Saudi Arabia. 

The country has long been associated with oil production and petroleum processing but Bahrain has begun to diversify its business interests and has established a strong banking sector for example and is exploring the tourist market now as well.  It is already the joint world record holder with Qatar for being “the independent country with the least income tax” as income tax is in fact zero in Bahrain...always an added bonus!  Many international businesses have headquarters in the country and Bahrain has long been a popular expatriate destination offering a cosmopolitan, sophisticated, relaxed and safe tax free lifestyle.  Bahrain is also the entertainment capital of the Gulf, and it regularly plays host to major sporting, music, cultural and artistic events and exhibitions.

In terms of its property market - well, property’s not cheap in Bahrain but at the same time it offers far better value for money than either real estate in the UK for example or property in Michael Jackson’s former home state of California in America.  Simple one bedroom apartments bought off plan in Muharraq start from USD 160,000 and go up to USD 350,000 for a three bedroom luxury new apartment in the same location.  A resale five bed, four bath immaculate villa in Saar will set you back USD 460,000 and if you’ve got the readies you can purchase a stunningly stylish and modern massive villa off plan on the Atoll Islands for USD 1.3 million.

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