There’s no doubt many people are interested in understanding the dynamics of the real estate market in Lebanon. One major question we get so often is about current prices!
How can you describe Real Estate Prices today in mid 2023?
Real Estate prices in Lebanon have started to increase! It is safe to say of course that all real estate transactions are now happening with real dollars and that old checks are no longer accepted for more than a year now. While prices are still lower in real dollars vs. prior to 2019 crisis, it is sure that real estate prices are increasing. We have witnessed between 5% and 10% price increase over the past 12 months.
Where is the majority of demand?
Low budget units are becoming very much in demand and becoming rare for many reasons:
1- absence of loans - which means that real estate transactions are being paid for 100% in cash upfront.
2- Investors are grabbing the opportunity of relatively low real estate prices in Lebanon at the moment. Investors are convinced real estate prices will pick-up and prices are indeed picking-up! Investors prefer to put their money in a few low-budget apartments with good rental yield vs. one high-budget apartement
3- low-budget apartments are easier to liquidate when cash is needed.
How fast are real estate transactions taking place?
Our listings are staying less than two weeks on the market (of course, I am referring to low-budget units). We are urging our buyer clients not to take too much time negotiating or even closing the deal. Chances are that the longer the closure time, the higher the risk for the apartment to be sold to another buyer. The next apartment our buyer client will like will be most probably more expensive than the one he just missed negotiating a few details.
In one sentence, what is your advice regarding real estate in Lebanon?
If you want to invest at an excellent price in Lebanon, it's NOW!
Which areas are high in demand for low budget units at the moment?
Achrafieh is very much in demand; We have a variety of apartments with budgets of $250,000 and lower that are available at the moment Click here
Jbeil as well is extremely in demand; We have a variety of apartments with budgets of $125,000 and lower that are available at the moment Click here
Generally speaking, JSK Real Estate in the leader in real estate market from Batroun, to Kersouane, to Metn and Baabda. We have added recently Zahle and have many good deals on lands in the greater area of Zahle and surrounding.
