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.

Pet-Friendly Home Design: A Comprehensive Guide to The Harmony of Pets, Furniture, and Flooring

Pet-Friendly Home Design: A Comprehensive Guide to The Harmony of Pets, Furniture, and Flooring Pets are an integral part of many households, providing love, companionship, and endless entertainment. However, they can sometimes wreak havoc on our furniture and floors. It's a common sight to see a beautifully designed home with a shredded couch or scratch marks on the wood floor. As a new homeowner, this can be especially frustrating as you strive to create a stylish and well-maintained space. But fear not! With a little planning and consideration, it is possible to have a pet-friendly home that is both stylish and functional. When it comes to furnishing your home with pets in mind, there are several key factors to consider. First and foremost, you'll want to choose materials that are resistant to damage caused by pets. This includes opting for furniture with metal framing instead of wooden legs, which can be chewed on by young puppies or dogs with a penchant for destruction. Additionally, selecting fabrics that are durable and easy to clean is crucial. Denim, canvas, leather, faux leather, and synthetic fabrics are excellent choices as they can be wiped clean and are less likely to be scratched or ruined by your pet's claws. Another important consideration is the color of your furniture. While it may be tempting to choose dark upholstery fabrics and rugs to hide stains and pet hair, they can actually highlight them. Instead, try to match your color scheme with your pet's fur to make any messes less noticeable. Patterned fabrics can also be a great option as they can help disguise any pet evidence. In addition to choosing the right furniture, it's important to think about the flooring in your pet-friendly home. Wood floors may be popular, but they are not scratch-proof. Consider harder types of wood, such as oak or maple, or explore manufactured hardwood that is more resistant to scratches. Stone tiles and concrete are also scratch and water-resistant options, though they may be colder underfoot. If you prefer carpet, be prepared to clean up stains quickly and invest in regular deep cleanings to keep it looking fresh. Of course, grooming your pet regularly is another essential aspect of maintaining a pet-friendly home. Frequent bathing and brushing can help minimize shedding and keep pet hair from clinging to your furniture and floors. Additionally, keeping your pet's nails trimmed or filed can make it harder for them to scratch your surfaces. Having the right cleaning tools on hand is also crucial for keeping your pet-friendly home looking its best. A lint brush is a must-have for gathering up fur balls, and a handheld vacuum cleaner can make quick work of any messes. Regular vacuuming and dusting can prevent pet hair from turning into dust bunnies and keep your space looking clean and fresh. In addition to these practical tips, there are also some design strategies you can employ to create a stylish and pet-friendly home. One option is to incorporate furniture and accessories that are specifically designed for pets. For example, there are pet-friendly sofas and chairs that have built-in pet beds or covers to protect against pet hair and stains. These pieces can be both functional and stylish, seamlessly blending into your home's decor. Another design strategy is to create designated pet spaces within your home. This can help contain messes and give your pets their own comfortable areas. For example, you can set up a cozy corner with a pet bed, toys, and a scratching post. By providing your pets with their own designated spaces, you can help prevent them from taking over your furniture and floors. When it comes to choosing accessories for your pet-friendly home, consider options that are both stylish and practical. For example, opt for decorative storage bins to keep pet toys and supplies organized. Look for stylish pet food and water bowls that can be easily cleaned and blend in with your home's decor. By choosing accessories that are both functional and aesthetically pleasing, you can create a cohesive and stylish look in your pet-friendly home. Finally, it's important to remember that accidents happen. No matter how well-trained your pet is, there may still be the occasional accident or spill. The key is to be prepared and act quickly. Keep stain removers and cleaning supplies on hand so that you can address messes promptly. Blot stains rather than rubbing them, as rubbing can spread the stain and damage the fabric. If you're unsure about how to clean a particular stain or fabric, consult the manufacturer's recommendations or seek professional help. In conclusion, it is possible to have a pet-friendly home that is both stylish and functional. By considering your pet's needs when selecting furniture and flooring materials, and prioritizing durability, ease of cleaning, and aesthetic appeal, you can create a space that is both comfortable for your pets and pleasing to the eye. With a little planning and maintenance, you can keep both your pet and your furniture happy in your new home.

Top 10 Must-Visit Summer Destinations

Unveiling Lebanon's Top 10 Must-Visit Summer Destinations 3 min read As the summer sun casts its warm glow over Lebanon’s beautiful landscapes, it’s time to travel to discover the country’s most spectacular sights From quaint beach towns to historic sites and mountains resorts on top, Lebanon offers unique experiences for travelers looking for unforgettable trips Would like to relax near mid-ocean, these 10 best places to visit in Lebanon this summer will guide you in places the most beautiful in the country As a resident of Lebanon, I am thrilled to introduce you to the top 10 locations to visit this summer in our beautiful country. Lebanon, with its diverse landscapes and rich cultural heritage, has something to offer every type of traveler. Whether you're a nature enthusiast, history buff, or simply seeking a relaxing beach getaway, Lebanon has it all. So, let me be your guide as I take you on a virtual tour of the most captivating destinations to explore this summer. Beirut - The City that Never Sleeps: Let's start our journey in the vibrant capital city of Beirut. Known for its energetic nightlife, bustling markets, and historical sites, Beirut offers a unique blend of modern and traditional. Explore the streets of Gemmayzeh and Mar Mikhael, where trendy bars and art galleries coexist with traditional Lebanese architecture. Don't miss a visit to the iconic Pigeon Rocks, where you can witness breathtaking sunsets over the Mediterranean Sea. Byblos - A Timeless Wonder: Traveling north along the coast, we reach the enchanting town of Byblos. As one of the oldest inhabited cities in the world, Byblos is a treasure trove of history and charm. Walk through its ancient streets, visit the Crusader Castle, and explore the well-preserved ruins of the Phoenician temples. Byblos also offers a picturesque harbor and a lively souk, perfect for indulging in local crafts and delicious Lebanese cuisine. Tripoli - Where History Comes Alive: Continuing our journey north, we arrive in Tripoli, Lebanon's second-largest city. With its fascinating history and vibrant atmosphere, Tripoli is a destination not to be missed. Explore the bustling alleys of the old town, where you'll discover stunning Mamluk architecture, traditional hammams, and vibrant markets filled with spices and local delicacies. Make sure to visit the imposing Citadel of Raymond de Saint-Gilles, offering panoramic views of the city. Baalbek - Ancient Marvels: Heading towards the eastern Bekaa Valley, we encounter the awe-inspiring ruins of Baalbek. This UNESCO World Heritage site is home to some of the most monumental Roman ruins in the world. Stand in awe before the towering columns of the Temple of Jupiter and marvel at the intricately carved stonework of the Temple of Bacchus. The sheer size and grandeur of Baalbek's ruins make it a truly unforgettable experience. Jeita Grotto - Nature's Hidden Gem: Escape the summer heat with a visit to the captivating Jeita Grotto. Located just a short drive from Beirut, this natural wonder comprises two interconnected limestone caves adorned with mesmerizing stalactite and stalagmite formations. Take a boat ride along the underground river, allowing you to appreciate the ethereal beauty of this subterranean marvel. Cedars of God - Majestic Forests: Embark on a journey to the majestic Cedars of God in the Qadisha Valley. These ancient cedar trees, symbolizing Lebanon's resilience, have stood tall for thousands of years. Walk among these towering giants, breathe in the fresh mountain air, and immerse yourself in the serene beauty of this UNESCO World Heritage site. The tranquility and natural splendor of the Cedars of God are truly awe-inspiring. Tyre - Coastal Charms: Traveling south along the coast, we arrive at the picturesque town of Tyre. Explore the UNESCO-listed archaeological site, wander through the vibrant souks, and relax on the golden beaches. Tyre is also renowned for its vibrant fishing industry, so be sure to savor the freshest seafood in one of the waterfront restaurants while enjoying the mesmerizing views of the Mediterranean Sea. Batroun - Coastal Retreat: Nestled on the northern coast, Batroun is a charming coastal retreat offering a mix of history and relaxation. Stroll along the narrow streets of the old town, visit the historic Phoenician Wall, and unwind on the pristine sandy beaches. Batroun is also known for its lively nightlife, making it the perfect destination for those seeking a blend of relaxation and entertainment. Beiteddine Palace - Architectural Marvel: Located in the picturesque Chouf Mountains, Beiteddine Palace is a masterpiece of Lebanese architecture. Explore the intricately decorated rooms, stroll through the beautiful courtyards, and admire the stunning views of the surrounding mountains. During the Beiteddine Festival held in the palace's stunning courtyard, you can enjoy a variety of cultural performances, including music, theater, and dance. Sidon - History by the Sea: Our final destination is Sidon, a coastal city rich in history and natural beauty. Visit the imposing Sea Castle, stroll through the bustling souks, and explore the vibrant old town. Sidon's Phoenician past comes to life at the Necropolis, where ancient tombs and artifacts tell captivating stories of the city's ancient civilizations. Lebanon's top 10 summer destinations offer a wealth of experiences, from ancient ruins and rich history to breathtaking natural wonders and picturesque coastal towns. Whether you're seeking cultural immersion, outdoor adventures, or simply a relaxing beach getaway, Lebanon has it all. So, pack your bags, embark on this remarkable journey, and let Lebanon's beauty and hospitality create memories that will last a lifetime.

The Rise of Sustainable Homes: Investing in Eco-Friendly Real Estate

The Rise of Sustainable Homes: Investing in Eco-Friendly Real Estate Embracing a more green Lebanon has been on the rise for the past decade. In fact, Lebanon was behind on this movement whilst neighboring countries strived to implement environmentally friendly technologies nationwide; Lebanese real-estaters often sought out luxury over sustainability. However, as more awareness was raised about the benefits of sustainable living, eco-friendly properties have been a growing trend in real estate for several years now. Let's explore the appeal behind this revolutionary step. Understanding the positive impact of an eco-friendly house requires an understanding of its actual meaning and what it embodies within its execution. An eco-friendly house is basically a house which respects the environment, is made from non-toxic materials, and is energy-efficient both in its construction and use. It can also imply due to new technologies and construction methods that it is constantly evolving. The house is designed from A to Z to be harmonious with its natural surroundings and constructed with recyclable and non-pollutant materials, as well as equipped with appliances meant to reduce energy consumption. Eco-friendly properties use renewable energy sources like solar panels or wind turbines and are built with sustainable materials like bamboo or recycled steel. Some may have features like rainwater harvesting systems or green roofs to help reduce their environmental impact. Sustainable houses come in different types such as bioclimatic, passive, wooden, eco-friendly cement, brick, tiny houses, etc. Digging a little deeper into the features of these homes demonstrates how their green characteristics result in long-term benefits and value. Bioclimatic houses use natural resources from their environment and little energy and that is essentially due to their geographical position; the house is located in a manner where the sun warms it, with southern-facing windows, and where heavy tree cover provides shade to certain rooms. Passive houses, as their name would indicate, have a very low-energy consumption. They distinctively produce nearly all their heating needs through the sun’s energy. And so their appliances must be very well insulated and over half of their windows should be facing south. Wood is the most used material when building these types of homes. It is natural, renewable and serves as a very good insulator. It could also be replaced with other materials such as eco-friendly cement; brick or compacted blocks of earth. These materials, in their raw state, respect the concept of "sustainable architecture" and therefore minimize, from the construction phase up until their final lifespan of recycling, the environmental impact of the eco-friendly house on the planet. Tiny houses are small wooden houses built on a trailer with important financial advantages of affordable construction costs and an overall pleasant lifestyle. Reducing energy consumption and costs, improving indoor air quality, and reducing carbon emissions have been established as the pillars of green architecture. These benefits can also increase property value and appeal to environmentally conscious buyers. Now, let's tackle the concept of "sustainable architecture". The main two goals of eco-friendly houses are to minimize any negative or damaging environmental impact of both construction and use. Therefore, the appliances used in an eco-friendly house should be environmentally friendly and reduce energy consumption. With that, sustainable technology such as geothermal energy and solar energy is preferred. This allows major savings on the electricity bill. At the core of it all, a mechanism of functionality meets design is optimized for the greater purpose. The versatility of alternative eco-friendly solutions is another significant component to shed light on. And it doesn't have to lack the "luxurious" aspect as you can still style your home internally and externally to your fashion-liking. Good taste doesn't have to be toxic. From enhancing the exterior design to thermal insulation, ventilation, energy production and efficiency, green architecture offers a sustainable low-tech way of living. If in the winter the sun heats the house, in the summer you can cool the house by avoiding direct exposure to sunlight; here's an excuse for planting more trees in front of your window. As well as installing a hedge to provide shade and choosing wood instead of cement for the terrace floor, as it stores less heat in the summer. Insulation is essential to avoid losing energy and reduce consumption. It allows heat to be better stored whilst improving the comfort for the residents. The roof is the most important part which needs to be insulated as this is where most heat escapes. Insulating walls, under floors and windows also helps limit heat loss. The flow and renewal of air is important both for health and to avoid humidity and dampness in the home. Install solar panels on the house's roof to produce self-supply electricity. You can save energy by consuming smart; for instance, you can install low consumption light bulbs, such as LED, purchase appliances with A+ energy ratings as a minimum, install devices such as low-consumption shower heads, toilets with two usage options or a rainwater collection system to control water use and install a highly energy-efficient water boiler. And that was your 101 on the features and benefits of eco-friendly houses; it is no wonder that this phenomenon is leaving a big imprint in the world of real-estate in Lebanon as we witness the widespread shift into green, sustainable and naturally-smart architecture.