1. Amid the current turmoil the country’s economy is passing through, why is it a good time to invest in real estate in Lebanon?
Lebanon is a small country where real estate is considered as one of the most valuable assets in the country. No matter what happens in Lebanon, real estate in general, buying land in particular, will always be the best bet.
Since we have limited resources of land due to the small size of Lebanon, the land’s price will never go down despite the economical and financial situation in the country. Buying land is always profitable and less expensive than built properties since they are exempted from paying taxes.
This is during a crisis. While during the normal economical cycle a built property would be a great investment especially those for lease since Lebanon is considered a commercial hub due to its location in the middle of other Arab countries. Many international companies are still operating from Lebanon.
Real estate prices in Lebanon always go up, never go down. During any crisis, the price will freeze and will stop increasing for a certain time where investors have the right opportunity to buy or invest in this sector. After a while, as the economy boosts again, prices will resume going up and investors can sell their properties at a profit.
2. What are the facilities offered by real estate companies in general and Realty Lebanon specifically?
Real estate companies are living a race with time to attract new clients, local and foreign. As Lebanese realtors, we always strive to facilitate our client’s mission by providing full service.
At Realty Lebanon, we always take over the negotiations, prepare and get the new documents from the Land Registry, and find solutions to finalize the deal between the buyers and sellers. Moreover, we have a team of sworn appraisers and lawyers to deliver red-carpet real estate services and to distinguish ourselves among other real estate brokerage firms in Lebanon. We are specialized in Brokerage, appraisal, and consultancy.
Some realtors used to offer many Bank facilities before the financial crisis took place. We are, as realtors, ready to do anything that makes real estate deals work for both sellers and buyers.
3. Is real estate in Lebanon actually an investment safe heaven, and why?
As mentioned before, Lebanon has a limited resource of land. This country is geographically special because of its land diversity and the beautiful and amazing combination between its position on the sea and the mountain.
Whether you want to build a house or a villa, a building, or an office, all locations are special.
The capital is quite expensive and the further you get away from the capital, the lower the prices you get, but not too low.
Lebanon is considered a real estate heaven because of its location in the middle of all Arab countries. It is the main gate to many countries around it.
Lebanon is unique, where historically real estate prices during crisis freeze, but never dropdown. Real estate in Lebanon is never a loss, it will always be a win-win situation.
This slogan can only be applicable in such a small country like Lebanon. As I always say, “In Lebanon, you buy you win. You sell you win”.
4. Lebanese real estate companies have adopted in the past few years a successful regional expansion strategy. What were the motives behind this trend, what countries have been mostly tapped and how has it affected the companies and clients?
Many realtors in Lebanon have expanded to many other countries around the world especially those who are proposing a permanent residency or those who have exceptionally low real estate prices. Many Lebanese are landlords outside Lebanon right now because of this expansion and because Lebanese always tend to invest in something new.
Mostly Lebanese prefer to buy in Cyprus, Greece, Bulgaria, Spain, Turkey, and Portugal. There are other countries where Lebanese are buying properties at a slower rate.
5. What are your expectations regarding the future of real estate investment in Lebanon and to what extent will it (or will it not) be affected by the economic crisis?
Real estate in general is the balance of any economy. The sector is overly sensitive to the financial movement, not only inside the country but in the whole region. That is why many lands and properties in Lebanon are owned by foreigners and not locals.
Arabs usually like to buy or to have a property in Lebanon because of the nice and distinguished weather, and because the price is affordable to them.
As the economic crisis increases, real estate becomes more attractive for investors to put their money into property instead of other investments with higher risk.