The mortgage market in Bahrain and across the GCC slowed down in the first three months of this year and could slow further. But in the longer term the market in Bahrain could double to around BD700 million ($1.9 billion) in the next few years.
That was the view expressed by Sakana Holistic Housing Solutions chief executive officer R Lakshmanan at the opening session of a two-day GCC Mortgage Master Class organised by the Bahrain-based mortgage provider at the Diplomat Radisson SAS Hotel, Residence and Spa.
He argued that at present the market suffered from potential purchasers of property putting off buying until the outlook for the market became clearer while financial institutions were still slow to lend and were not lending the high percentage on house prices they were before the global financial crash.
Several topics will be discussed at the Master Class, including the importance of understanding the mortgage bank model, essential tools for managing the recession and mortgage specialisations such as off-plan financing and Islamic mortgages.
The presenters also detailed the key essential skills for building a model mortgage bank: operations, product, risk, customer service and distribution.