Flip through the latest issue of Gulf Weekly.
A 'show home' property on sale on the prestigious Riffa Views Signature Estates development for BD400,000 just five months ago can be snapped up for almost half the price.
The owner, Simon Harding-Roots, who has since moved away, is willing to listen to offers under BD250,000 for the four-bedroomed executive villa but says his personal situation is the cause of the valuation decrease.
In fact, the prices of Bahrain properties appear to be holding firmer in a 'buyer's market' than neighbouring Dubai which has been caught out by a property bubble burst.
Mr Harding-Roots said: "I don't really want to add any unnecessary doom and gloom. I have specific personal reasons for reducing the prices and don't believe this reflects market sentiment. Indeed, there has been a significant increase in viewings throughout January and February."
Now chief operating officer at Treasury Holdings China Limited, he initially bought the villa on the Lagoons Estate soon after it was completed two years ago. So taken by its proximity to the planned Country Club he decided to buy a larger five-bedroomed property next door with the intention of living there with his family and renting out the smaller villa as an investment opportunity.
But his job relocation put paid to that plan and the world economic crisis followed - caused initially by a US property slump. The property comes landscaped with tarpaulin shading offering an additional saving of up to BD10,000.
Home sales have slowed as many potential investors keep hold of their money awaiting signs of a global economic recovery or are unwilling to secure loans because of unemployment fears. As a result realtors believe there are bargains to be had with some owners and investors willing to sell four-bedroomed villas for as little as BD220,000.
The majority of homes on Riffa Views, which boasts a Colin Montgomerie-designed golf course and an international school, have been sold and the few remaining villas on the Lagoons estate, for example, come with an official starting price of BD350,000.
