Apartments for sale in beirut lebanon
Beirut Overview - Despite the constant din of apartment construction in Beirut and the dire outlook of the luxury market, rents and sale prices in the capital remain stubbornly high. Many of the new properties that will come on the market in 2013 will be geared toward the dwindling class of buyers who can pay upward of $1 million for a residence. Lebanon’s deflating real estate bubble will burst in 2013 – if it hasn’t already – and heightened demand from Syrian refugees will keep rents up.
Though much-needed smaller units of between 150 to 200 square meters are expected to come on the market over the next couple of years, none of these trends will
likely result in a windfall of bargains for Beiruti apartment hunters who have contended with too little access to affordable housing for far too long.
Real estate figures from the second half of 2012 show that while sales had fallen by more than 10 percent year-on-year in October 2012, the value of transactions increased 18 percent since September, meaning neither the glut of unsold luxury units on the market nor the smaller apartments under construction had much impact on prices in Beirut.
Arab demand for 300-500 square-meter apartments that cost $1 million or more has stagnated over the past six months, but demand from middle-to-upper income buyers for smaller units in the $200,000-$400,000 range remains high.
Beirut Property Link