Beirut apartments are still among the most expensive in the MENA region, and Lebanonâ€™s real estate trend is unlikely to remain sustainable, said a recently issued report. The report, dubbed â€œGlobal Property Guide,â€ ranked Beirut in 50th place in terms of the price of an average apartment. [Link]
Regionally, Beirut is second to Dubai. I wonder what is it that drives Arabs mainly and foreigners to buy houses and apartments in a country with no electricity, water shortage, no urban planning and tensions all across its borders. I’d understand prices in Beirut to be a bit expensive but the prices are just absurd, and it applies elsewhere too.
Average square meter in regions such as Jbeil, Tabarja or Keserwan as a whole costs around 1400$ last time I checked, and around 1800$ in Mount Lebanon areas.