I was just saying in my previous post that the government should not be proud of having one of the the highest cost of living in the region, and then I read this. [Source]
More than 90% of Lebanese cannot afford an apartment in Beirut nowadays, and are running away from Beirut and its surroundings because of the real estate prices leaving our capital to Arabs and foreigners.
Our country is for sale and we think that’s a positive thing. I only wish we knew who that “private sector source close to major government telecom projects” is.
oh so true! Beirut souks gorgeous i know but the business model is not targeting locals (or only 5 to 10%from the locals) due to the expensive outlets; now these outlets are faced with a serious financial problem most of them wanted to close but they were given a 6 month free rental… so in my humble opinion a business model that is not taking the local market as primary target will not survive
True,the cost of living is rising everyday and the properties prices have jumped not just because of the touristic boom of 2008 but also because of the budget deficit and the national debt so those who are optimistic and think prices are going to fall any time soon are wrong, unless a war breaks out we won’t see any price fall unfortunately,the best thing to do is to immigrate
Even foreigners have a hard time affording real estate prices in Beirut! Especially those of us working on a Lebanese salary!
Ha, I just stumbled upon this randomly. Maybe some day I will reveal more about the “source close to telecom projects” who said this. He actually hung up the phone on me when I asked a simple question about Lebanon’s existing fiber optic network and how it connects to the centrals and the mobile operators. He accused me of asking suspicious questions and “not being a journalist.” Then he called me back 10 minutes later.