Property demand is half of supply. Buyers seeking units of 100 m2 to 150 m2

Property demand
is half of supply
Buyers seeking units of 100 m2 to 150 m2
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The number of apartments for sale in Administrative Beirut reached 15,700 units in 2018, according to the real estate article published in the February issue of Lebanon Opportunities.

The article, based on a study done by InfoPro Research, shows that demand in the capital totaled 48 percent, or 7,500 units of what is available for sale on the market. The number of units being sold has been decreasing three years in a row.

In terms of dimensions of units, supply is following demand. Over 45 percent of demand in the past two years has been for apartment units between 100 square meters (m2) and 150 m2.

“Prices have been stable with a slight decrease, but everybody is waiting to see what is going to happen,” said Jennifer Abu Mrad, Research Manager.

Asking prices in Beirut have become very similar to sales prices, averaging around $3,400 per m2. The average asking price in the suburbs is unchanged at $1,925 per m2.

“The price decrease in luxurious apartments and areas is much larger than in affordable ones,” said Massaad Fares, Secretary General of the Syndicate of Real Estate Association-Lebanon.



Reported by Yassmine Alieh
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Date Posted: Feb 19, 2019