The Ministry of Housing and Urban Planning in Bahrain has announced new housing initiatives that will benefit homebuyers by offering fixed house prices and capped monthly instalments at BD199. This move allows individuals to choose their home through an online draw, providing equal opportunity to all. The government has stated that the price of housing units will remain consistent throughout the kingdom, with a maximum monthly payment of BD199, regardless of the buyer’s income.
In a recent note to the Council of Representatives, the government explained that payments for housing units will not exceed 25% of the buyer’s wages over a span of 300 months. Banks are required to ensure that deductions do not surpass this threshold or the agreed fixed amount, whichever is lower. Additionally, the housing allocations are based on availability, providing transparency in the process.
The process for selecting a housing unit involves citizens receiving a certificate showing the allocated area for the project. If desired, they can request an amendment, which will be considered if other options are available. Otherwise, the government will offer housing in the nearest available development. Citizens will have the opportunity to choose their home through an online system, with three options displayed on a screen and a project engineer available to explain the features of each option.
The government has emphasized that there will be no direct interference in the selection process, allowing citizens to make informed decisions based on their preferences. It has also highlighted its commitment to providing a variety of housing services to meet the needs of the citizens, including ownership of houses, flats, and plots, as well as financing options through the “Tas’heel” and “Mazaya” schemes. These initiatives aim to offer affordable housing solutions and streamline the process for homebuyers in Bahrain.
