(MENAFN) The residential market in Bahrain remained stagnant during the first quarter of 2016 with the rental rates remaining equal to the levels achieved during the previous quarter.

In detail, the residential market in the kingdom showcased during the first quarter and witnessed a declining trend in the sales sector, according to the consulting house PKF.

Moreover, the average rental rates remained stable during the first quarter of this year compared to the previous quarter, and decreased by 4.4%.

"A declining household income and the pipeline of upcoming properties are expected to put pressure on rental rates in Bahrain's residential market until the end of 2016", PKF added.