Lebanon: Life in Wonderland
The article focused on the state of the real estate market in Lebanon after 2019, when the Lebanese currency collapsed and the economy deteriorated. This led to a decline in purchasing power and a freeze in bank credit. Despite this, demand for apartments in the areas surrounding Beirut increased, especially after the events of 2023, such as the shelling of the southern suburbs and the assassination of Hezbollah leaders. Although prices rose, the real estate activity continued, driven by growing local demand—particularly from displaced individuals and the affluent— with price levels ranging from $1,000 to $5,000 per square meter depending on the area. Meanwhile, the market did not benefit from banking support, which halted in 2019, and faced a decline in foreign remittances.
Notice: This Is an AI-Generated Summary
Comments (0)