Planning to buy a house in Lebanon?

Horror; that pretty much identifies what you would be facing once you decide to buy a house in Lebanon. Aside from the fact the cost of apartments does not conform to the average cost of living in Lebanon, you bust your ass trying to find a nice apartment or house and then you get stumped as to how much the landlord/owner is actually requesting. My only regret is that I did not buy an apartment two years ago when the prices were relatively low (~540$ for 1m2) compared to what they are right now (1000$ for 1m2). It’s quite common for people to actually hire someone to do the work for them (semsar), however those people are such thieves! They are so fluent at locating great prices but they shield the current owner of the apartment from you and request a higher amount than what the owner is actually requesting. What’s even worse is that the law states that you ought to pay that guy 2% of the entire cost. So hey! The guy finds a great deal, 150m for 100K$, he adds 20K$ to the price for himself and then expects you to pay the 2% of 120K$.

Now this is all good but in all honesty those numbers are so low. I found a nice apartment and I hope it’s going to work out!

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6 thoughts on “Planning to buy a house in Lebanon?

  1. Good luck O.
    I was bitching when I had to go through that, but after the prices jumped…I now thank my lucky stars every day.
    Everybody around me is going through your same problem…

    Advice:

    – DO NOT USE A “SEMSAR”! Do your own work!
    – Make sure it ain’t the last floor, especially in high areas…Bldg owners never put enough money to safeguard the tops
    – Ask about the little details: Water tanks top and below, Mazout tank, tv cables inside the house…

  2. Thanks Mich, that’s exactly what i’m doing, sadly budget is an issue as well 😦

  3. That’s all true. There is no reason for shifting the prices to its unbelievable current rates, not even the local demand on realestates. It has also become a common practice in Lebanon, that landlords sell the same house for two or more different persons, in total absence of any regulatory actions from the government authorities. They simply sell the house, run away, and leave the people facing each others in courts.

  4. I need to buy an appartment of less than 150 m2 in the ( Ain Saadeh – Fannar – Beit Merrie ) Do you know how I should go about gettin one?

    1. Riad,

      Normally I’d first go cruising around the areas looking for buildings that are still under construction, that would give you a good idea of the current pricing in that area. Though, for sure it will be overpriced to begin with. Next, you should check the Ads newspapers as they have loads of apartments for sale in those areas as well. What ever you do, just don’t use real-estate agents, most of them are thieves. Patience is what you need most. Good luck finding your new home.

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