Property for sale in Lebanon
Lebanon is a state of the Near East that faces the eastern sector of the Mediterranean Sea. Lebanon borders to the north and east with Syria and to the south with Israel. To the west it overlooks the Mediterranean Sea. The area of Lebanon is 10.452 km². The capital is Beirut.
The demand for property for sale in Lebanon can be divided into three categories: foreign investors, Lebanese expats residing in the Gulf and throughout Africa, and local.
Foreign demand for property for sale in Lebanon has been steadily declining in recent years, with investments from wealthy Gulf-based businessmen almost nonexistent today. The reason is the macroeconomic and political landscape of the country.
Lebanon's macroeconomic environment is 136th out of 138, while its simplicity of doing business stands at 133 out of 190. Meanwhile, its budget deficit has risen to $ 4.8 billion in 2018, equal to 11% of GDP, with the government slow to implement reforms. The political disorder in Lebanon is also another obstacle, with the Syrian refugee crisis which is putting a strain on the country's anaemic economic performance and crumbling infrastructure.
How has Lebanon found itself in this situation? It is blamed for the mismanagement of the crisis by policymakers.
The torpid real estate market, with developers scrambling to find buyers for property for sale in Lebanon, billions of dollars were injected for subsidized residential loans up to LBP 800 million for a single apartment, with a significant share being distributed to rich people who do not need this help, leaving minimal funds for the people they really needed.
Among the main challenges faced by the new Lebanese government there is the stability of the real estate and residential sector, with questions being raised about the possibility of avoiding a collapse in prices and surviving among the current fundamentals of the market.
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