LEBANESE HOUSING BUBBLE!

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Alright, so you’ve all heard about it. Be it from couples that are about to get married or people who just want to live on their own. WHAT’S THE DEAL WITH THE INSANE HOUSING PRICES?! I guess the best explanation is that found on Wikipedia http://en.wikipedia.org/wiki/Lebanese_housing_bubble.
All I can say is, good luck to all of you trying to buy an apartment these days!

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About Sareen

A software developer who loves to draw cartoons!
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11 Responses to LEBANESE HOUSING BUBBLE!

  1. iRoody says:

    yet another interesting post!
    You know the lebanese saying: Niyel yalli 3endo mar2ad 3anze b lebnen?
    This will always be true, because my dear Lebanese friends if you keep selling your properties to the next rich Arab (just to drive a Mercedes benz or wear a rolex) you will end up wishing to have 1 sqm spot in that country!

    “Earth provides enough to satisfy every man’s need, but not every man’s greed” Gandhi
    … and especially not the Lebanese Greed!

    Lovely post keep on the good work…

    • What I don’t understand is why the government doesn’t add additional taxes to those who are purchasing a house but don’t actually live in Lebanon. This is how it’s done in other countries. It isn’t fair. Anyway thanks for the comment!

      • Zaher says:

        Indeed; however, if I am not mistaken, a new tax on the empty apartments is realized in the new budget! woo finally, YET, we need some more serious measures.

        The government should adopt some prices ceiling plan, mainly according to certain classifications for the areas. It is crazy that prices in the most populated areas have exceeded $200,000 for even poorly constructed apartments!!

      • The prices exceed 200,000 not only for the poorly constructed apartments but for those apartments that are more than 20 years old! Thanks Zaher for the comment.

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  3. Nabeel says:

    Haha, awesome. with color too!
    (I noticed the last google add too: $990,000 VILLA in Lebanon :-P)

  4. meinlebanon says:

    As an expat living in Lebanon, one of the reasons that I know that my time here is limited is the fact that I will never be able to afford to build a life here. How will I be able to pay for my mortgage, afford a car, put my children through school, travel…etc etc etc..the list goes on and on..Unless you are from a family with “old money” chances are, not matter what your determination or resolve, there will come a day when you will want better for yourself..and that is the day that you will leave Lebanon.

    I’m 23, and for now, Lebanon is great..I’m experiencing things I would have never had the opportunity to had I stayed in the States..but unless the economic situation in Lebanon changes,,I will not be be able to live here forever (even if I want to!)

    • Very well said. The way I see it is there are 3 choices that a person can make in order to continue living here (without depending on old money)
      1. Live with their parents even after they get married.
      2. Have a house mortgage for the next 30 years. Eventually you find out you’ll NEVER get out of debt.
      3. Leave the country.
      I left out hidden option number 4 which is to make money through illegal means.
      Good luck and hope things will change!

  5. Sako says:

    I think it’s better buying a house in Cyprus and a small boat to go there everyday 😀

  6. Marriage on-hold says:

    Dear Lebanese,
    Do NOT wait your government to issue any rule that might help you live in this country. Who cares if you live here or not?! Just be stupid enough to blind-elect those filthy politicians. (All of them..)

  7. xtrem says:

    well , my father made the right choice , we have a big land , a three stories house { NO AM NOT BRAGING} eventhough i dont want to live in lebanon , the taxes , the fuel , the food , the electricity the ineternet … .. all of these are freaking expensive , and if u had the money , and no WASTA {pollitical support} u wont have a descent paying job .
    I choose to live outside and keep that place for my relatives

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