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الكتائب اللبنانية
Source: الكتائب اللبنانية
1 Dayالكتائب اللبنانية
Source: الكتائب اللبنانية
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A tax on vacant apartments may prompt some owners to put their units up for sale or rent, but it is no magic bullet for the housing crisis. If imposed without taking weak demand and the difficulty of renting out some properties into account, it could also burden real estate investment. Ministry of Finance data for 2023 indicate that Lebanon has around 380,000 vacant units, 62% of them in Beirut and Mount Lebanon. The vacancy rate in the capital is close to 20%. But assessing the tax’s impact requires distinguishing between voluntary and involuntary vacancy and conducting a comprehensive property survey. The head of the Syndicate of Real Estate Brokers and Consultants has proposed applying the tax selectively and granting exemptions: five years for new units and three years for other owners, with properties reclaimed from old-rent leases exempt for at least ten years. He also proposes directing the revenue toward housing loans, stressing that addressing the crisis will require an integrated housing and financing policy as well.
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