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Lebanese Real Estate Market 2023, current Status preview

Sep 28, 2023

Lebanese Real Estate Market 2023, current Status preview

As Lebanon enters the year 2023, its real estate market continues to be a complex landscape shaped by a combination of historical, political, and economic factors. Lebanon, a small but historically rich Mediterranean country, has long been a melting pot of cultures, a hub for commerce, and a touristic destination. Its diverse landscapes, vibrant cities, and historical sites have made it an attractive journey for both local and international real estate investors. However, the Lebanese real estate market is a complex and ever-evolving domain that has faced its fair share of challenges.

Lebanon offers a diverse range of real estate properties, from historical homes to modern high-rise apartments along the coast. Investors can choose from residential, commercial, and vacation properties. As well as attracting foreign realtors.

Property prices are often affected by economic and political events, making it essential in the market. While the persistent devaluation of the Lebanese Pound against the US Dollars has created a huge gap, many real estate investors are facing issues of affordability with their clients. And when we think that international investors could be helpful, they are faced with political instability and economic crises which would make them hesitant in investing their money in Lebanon.

Covid era has affected properties and their owners, so many investors have shifted their focus towards the rental market over buying properties. In response, there has been an increased demand for affordable housing, developers are exploring ways to create more cost-effective options. Property owners of traditional houses ventured into renovating and restoration projects that turned out appealing to those who seek characteristic homes – adding sustainable and modern facilities to attract environmental buyers and investors.

The challenges that this market is facing are constrained. And the most significant challenge is the political instability, investors and homebuyers are aware of the sudden change and unrest of policies, many are cautious, preferring to wait for stability before making significant investments. Additionally, we need not to forget about the Lebanese diaspora, their population played a vital role in real estate, though everything is at halt with them with the recent changes especially since 2019. While the economic crisis marked high inflation and unemployment has impacted purchasing specially with the dual currency exchange, the quoted prices added complexity to the transactions and trades. Also, the banking sector set a huge challenge for taking loans to secure desired properties. Moreover, the bureaucratic processes involved in real estate can be time consuming and somehow confusing to both local and foreign investors. For instance, there’s no license program to become a realtor, one has to make connections and gain trust from property owners and homebuyers, this may cause disorder and time to establish a proper reputation.

Despite the political instability and economic turmoil, the Lebanese real estate market continues to offer potential for investors and homebuyers. Keeping an eye over property prices and staying informed about currency fluctuation, as well as being aware of the legal requirements for anyone considering an investment.

The country strives for stability and financial recovery and there is hope to revive the real estate sector. The introduction of the Fresh Dollars method has facilitated the transaction process and it has played a positive role in developing the market and helping it to recover, slowly but surely balanced. The course of action requires effort to face the political issues and create a favorable environment. And for those who are willing to take up the challenges, Lebanon’s real estate market still holds big promises, especially that it’s a beacon of opportunities.

Focusing on the assets that this country holds like rich history, natural landscapes and cultural diversity will always be attractive destinations for investors.

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Christmas Decorations in different Lebanese districts
Christmas Decorations in different Lebanese districts As Christmas approaches, Lebanon undergoes a magical transformation. From the bustling streets of Beirut to the charming old city of Byblos, from the festive city of Jounieh to the beautiful old souk of Batroun, and from the snow-capped mountains of the north to the fertile valleys of the Bekaa, the country is adorned with festive decorations, spreading joy and cheer. Beirut, the capital of Lebanon, is particularly stunning during Christmas. The streets are lined with twinkling lights, and the Christmas trees are simply breathtaking. Malls and shopping centers compete to outdo each other with their elaborate decorations, creating a festive atmosphere that is sure to put you in the holiday spirit. Houses in Beirut are also beautifully decorated, with many families putting up Christmas trees, lights, and other decorations inside and outside their homes. credits: @flyoverlebanon Byblos, a city steeped in ancient history and charm, transforms into a winter wonderland during Christmas hosting a distinguished tree. The old city, with its admirable streets and historical landmarks, is adorned with twinkling lights, festive garlands, and colorful ornaments as locals and visitors alike stroll through the narrow alleys, admiring the elaborate decorations and soaking in the enchanting atmosphere. Jounieh, a vibrant coastal city just north of Beirut, also embraces the Christmas spirit with great enthusiasm. Families take pride in decorating their homes and businesses with Christmas lights and trees. The city's main square becomes a focal point for Christmas celebrations, hosting a large Christmas tree, live music performances, and a bustling Christmas market. Further up the coast, Batroun also joins in the Christmas festivities. The souk, with its arched walkways and traditional architecture, is transformed into a magical realm of lights, ornaments, and festive cheer. Local artisans display their handmade crafts and delicacies, while the air fills with the sounds of traditional Lebanese Christmas carols. The Christmas spirit in these coastal cities is bringing joy and warmth to the hearts of all who visit. The blend of traditional Lebanese customs and modern festive decorations creates a unique and unforgettable Christmas experience. In the mountain villages of Lebanon, the Christmas spirit is also alive and well. Villages like Broummana, Zaarour, Farayya, and Annaya offer stunning views of the snow-capped mountains, as well as cozy chalets where you can relax and enjoy the beauty of the winter landscape. The villages are decorated with Christmas lights, creating a magical atmosphere that is sure to enchant visitors of all ages. In Bekaa Valley, Zahle stands out for its distinctive Christmas adornments. Residents put great effort into embellishing their houses and establishments during the holiday season. Vibrant light arrangements adorn the entire city, fostering a wonderfully festive ambiance. Families and friends gather to sing, exchange gifts, and enjoy each other's company. The streets are filled with music and laughter, and the air is filled with the scent of Christmas trees and delicious food. Lebanon is a truly special place to celebrate Christmas. The beautiful decorations, the festive atmosphere, and the warm hospitality of the Lebanese people make it a truly magical experience. The country is truly transformed during this special time of year. The Christmas season in Lebanon is also a time for reflection and giving back to the community. Many churches and organizations hold charity events to help those in need. People also donate food, clothing, and toys to those less fortunate. The Christmas spirit is alive and well in Lebanon, and it is a time for people to come together and celebrate the joy of the season.
Why should you invest in a chalet in Kfardebian, Lebanon?
Why should you invest in a chalet in Kfardebian, Lebanon? For many, the quintessential summer experience involves escaping the hustle and bustle of everyday life for a haven of tranquility. While traditional vacations offer temporary respite, they lack the enduring charm and personalization of owning a chalet. Kfardebian, Lebanon, nestled amidst the majestic Mount Lebanon range, presents itself as the ideal location to cultivate this idyllic summer sanctuary. This captivating mountain village boasts not only breathtaking panoramas but also a thriving community and a vibrant calendar of activities, making it a strategic investment in a superior summer lifestyle. Owning a chalet in Kfardebian transcends the impermanence of traditional summer rentals. Imagine mornings commencing with the sunlight illuminating your chalet and revealing a captivating panorama of snow-capped peaks cascading into verdant valleys. This idyllic setting isn't a fleeting dream; it's the enduring reality of chalet ownership. Crucially, a chalet becomes an extension of your personality. Unlike standardized rentals, you possess the freedom to personalize the space, infusing it with your unique style and preferred amenities. Picture laughter echoing through the chalet as you host convivial gatherings on the terrace, or cozy evenings spent fireside, fostering a deeper connection with loved ones. Owning a Kfardebian chalet represents a strategic investment in a lifestyle that prioritizes tranquility, personalization, and the creation of enduring summer memories. Kfardebian transcends the notion of a seasonal escape, transforming into a captivating year-round destination. The village itself exudes a charming ambiance, characterized by meticulously maintained cobblestone streets adorned with vibrant floral displays. Nestled amidst the majestic peaks of Mount Lebanon, Kfardebian boasts breathtaking vistas that inspire awe with each glance. Lush pine forests carpet the mountainside, offering a refreshing escape from the summer heat and a picturesque backdrop for exploration year-round. Beyond the scenic splendor, Kfardebian fosters a vibrant community, pulsating with local shops, cafes, and restaurants serving up delectable Lebanese cuisine. This translates into a year-round social scene, fostering a sense of belonging and connection. Winter transforms Kfardebian into a wonderland, with renowned ski slopes a convenient distance away, offering a plethora of winter sports activities. The real estate market caters to a diverse range of preferences, offering quaint chalets imbued with rustic charm alongside luxurious residences boasting modern amenities. Owning a chalet in Kfardebian transcends mere property acquisition; it's a strategic investment in a year-round haven, offering endless possibilities for relaxation, exploration, and community engagement. Furthermore, Kfardebian's status as a thriving mountain resort translates to a demonstrably positive trajectory for property value appreciation, solidifying the investment potential of owning a chalet here. Transforming your vision of a Kfardebian chalet into reality is an attainable and rewarding pursuit. The initial phase necessitates meticulous research. Familiarize yourself with the alluring offerings of Kfardebian by exploring reputable and established real estate agencies. A crucial step involves establishing a clearly defined budget and outlining your desired chalet specifications. Consider factors such as size, amenities, and the aesthetic spectrum, ranging from rustic charm to contemporary luxury. Defining these parameters streamlines the search process, ensuring an efficient allocation of your time and resources. Partnering with a local realtor affiliated with a recognized professional association provides significant advantages. Their comprehensive understanding of the Kfardebian market ensures they can identify properties that perfectly align with your unique needs and preferences. Furthermore, their expertise extends to navigating the legalities of Lebanese property ownership, guaranteeing a smooth and stress-free transaction. Owning a chalet in Kfardebian represents more than simply acquiring property; it signifies a strategic investment in an elevated lifestyle. Embark on your chalet ownership journey today by checking out our featured chalets below: A 126 SQM fully furnished chalet for sale in Kfardebian, Lebanon. A 200 SQM duplex chalet for sale in Kfardebian, Lebanon. A 105 SQM furnished duplex chalet in a gated community for sale in Kfardebian, Lebanon.
Renovations That Add Value Making Smart Upgrades to Your Home
Renovations That Add Value Making Smart Upgrades to Your Home We all dream of that house that we’ll turn into a home, it’s not only a place to live in but also to create memories of beautiful events. And in return, such projects could turn into long-term investments. Moreover, when it comes to increasing the property's value, it is advised to make smart and effective choices for renovation which will bring a significant impact if we choose to rent out or even sell the property. Such changes will offer the highest return, and empower homeowners to enhance their properties.  What is considered the heart of the home? It’s the kitchen. For this reason, you can start there by renovating the countertops, changing cabinets, and especially upgrading the appliances as old appliances can turn off potential buyers, choose energy-efficient models that will definitely make your kitchen more appealing and add value to your home overall. You can also consider an open floor plan if the space allows. A fully equipped kitchen is much more inviting than one with very basic appliances. Moving on to the bathrooms, homeowners can replace old tiles, install a new bathtub and possibly a shower cubical specially in the master bedroom if the house contains multiple bedroom units. Adding extra bathroom near the living area and a washroom close to the dining area will certainly boost the home’s value. Creating modern bathrooms and upgrading the fixtures are definitely a major selling point. As we all know, home entrance will surely leave a first impression. So, if the house has its own entryway, adding seasonal flowers and greenery will appease potential clients. If the exterior allows, painting it would add freshness and it is more inviting; it stands out in the real estate market. When the front of the house is attractive, one would wonder what the backyard or the balconies look like! Outdoor living spaces are becoming popular, a homeowner can use such spaces for relaxing or even entertaining their guests. Quality materials and proper construction are essential to ensure durability and safety. With the recent unfortunate event of the economic crisis in Lebanon, electricity and water supply have been greatly affected. Many residential and commercial spaces have chosen to switch from government provided power to installing solar panels. By installing such energy-efficient method, utility bills have been reduced. It helps also that Lebanon is located at the Mediterranean coast, which means we get around 300 sunny days per day with over 8-9 hours daily sunshine. It’s a game changer and offers long-term savings, in addition to increase of the house’s value. With such energy-efficient improvements, one can invest in smart home technology that make the property more appealing to acute buyers. Like installing smart HVAC, security system, light control, or even a complete home automation system. Such upgrades will increase the sense of security for future buyers. What would eventually seal the deal, is when the buyer feels at home. The interior of the house will append warmth if an ambience is created like repainting the walls, polishing the hardwood floors, and updating light fixtures. Giving a fresh look while maintaining a modern style. Renovating the house will surely increase its value. A well-planned renovation will certainly enhance the living experience and provide a proper return on investment when it comes to selling, keeping in mind on planning a proper budget that aligns with the real estate market. And make no mistake, such projects can be applied on rural or old-town houses, while preserving their identity while in return keeping them up to date. A considerate design of plans and a skilled execution of renovations will ultimately turn the house into a valuable asset.