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Lebanese real estate sector suffers worst situation
(MENAFN) The Lebanese economic slowdown affected the country's residential apartments' demand significantly as it was affected with a sharp decrease in 2019.
Demand on residential apartments in Lebanon also suffered the impact of missing subsidized housing loans as well as the lack of confidence in the government.
Chairman and Founder of Ramco Real Estate Advisors Raja Makarem emphasized that "the real estate sector is in its worst situation ever."
Makarem added: "banks are only giving loans at high interest rates nowadays prompting citizens to keep their money in banks and gain a high interest rate on their deposits instead of investing in apartments."
Demand on residential apartments in Lebanon also suffered the impact of missing subsidized housing loans as well as the lack of confidence in the government.
Chairman and Founder of Ramco Real Estate Advisors Raja Makarem emphasized that "the real estate sector is in its worst situation ever."
Makarem added: "banks are only giving loans at high interest rates nowadays prompting citizens to keep their money in banks and gain a high interest rate on their deposits instead of investing in apartments."
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