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Wael Abdul Rahman (author)'s picture
5 years 10 months ago
Wael Abdul Rahm... - - Jad K. and Zee: you have similar comments that I hope to have addressed in my comment about the scarcity of land in Beirut and the effect of expats - SLC: the article mentions the prices in Beirut not Lebanon, and the source is duly mentioned (I have no input in these numbers). Agree with you on the role of the municipalities. As for your optimism for the future, I have to vehemently disagree. I find the current situation extremely bad, and getting even worse. I also believe that the vast majority of the people in Lebanon are very pessimistic about the country's situation which would put downward pressure on real estate prices. - RA: thank you for your comment. I think you are absolutely correct; and I might add that you can walk around Ras Beirut at night and easily notice that most of the new buildings are not lit (implying that most apartments are vacant); which confirms that there is no shortage of supply despite all the rhetoric about shortage of land - Elie: I love your comment! I agree totally with you, and this is what drove me to do the research about this topic and write this article. You wrote the most important sentence: "Prices are way unjustifiable" - Anonymous (3): can you please share with us how did you come up with the 15% figure? - Lebanese: Thank you for your comment. I totally hear you; and I wish that my humble article can make a change, even if a small one, in increasing awareness about this topic, and consequently in helping people in your situation.