Five tips for buying real estate in Lebanon

Although the Lebanese market has experienced a huge increase in real estate prices in recent years, the market still attracts investors from the local and regional scene.

With recent inflation in property values ​​and the ever-increasing population, especially the number of young couples looking to settle, it has become difficult to find the right home, in the right area, at the right price.

In fact, property in Beirut has become overpriced with prices per meter sometimes exceeding $4,000 in certain neighborhoods and the recent trend has seen new buyers migrate to the mid-distant periphery and far-flung suburbs where offers are attractive, though still rare, they are not impossible to obtain. find.

This article provides Lebanese property seekers with a list of tips and tricks that will make property hunting and finding the ideal home a better path with fewer obstacles.

1 – Choose the right location: Whether you want to stay in a busy area of ​​Beirut, within walking distance of restaurants, shopping centers or schools, or if you want to settle in the middle of a nice hilly area like Broumana or Beit Mery. , always make sure to choose the place that makes your heart beat and gives you this nice warm feeling every time you come home.

You guessed it, location is the first and foremost criteria to consider when purchasing your home, office, or any piece of real estate. Also keep in mind that location is the main factor that determines property prices, so make sure you choose a location that you can afford.

Popular winter spots are Beirut, Jounieh, Baabda and the coastal area. Popular summer spots include the mountains area, Metn, Keserouan, The North and the Bekaa region.

2 – Choose the right size for you: There is a common tendency among most Lebanese to live in much larger properties than they really need. It is not uncommon to find a family of two or three living in a 300 square meter apartment or even larger maisonettes and villas.

Ask yourself: do I really need all this space? How about sacrificing a little space for the sake of choosing a better area? Always keep in mind that bigger does not always mean better and that the key point here is to choose a comfortable apartment with the right size.

3 – Always ask for the garage: Parking in Lebanon, especially in Beirut, is very difficult, although most residential and commercial buildings now offer underground parking spaces. When shopping for your new apartment or office, always make sure you get your correct portion of the parking area, and remember to include it in your real estate budget.

4 – Use online brokers to find your ideal property: The online real estate market in Lebanon is very rich with a large number of real estate brokers who keep their databases updated with the latest listings.

From individual real estate agents and developers to large listing aggregators, it’s now easier than ever to search and find your Lebanese property online. Most online brokers now allow you to search for properties by region, price, size, property type, and many other parameters.

5 – Finally, don’t forget the financial part! With the recent inflation of property prices in Lebanon, it has become difficult to close deals without the help of a mortgage or home loan. Remember to research all bank offers and try to deposit as much as possible to lower your interest expense.

Many good real estate brokers in Lebanon, especially in the Beirut area, have deals and special offers with regional and international banks, so be sure to ask them about these or check their websites thoroughly.

That’s it, we hope this article has been useful and facilitates your search for property in Lebanon.