Therefore, thinking about expanding the base of investment and allocating it to different geographical areas is the right thing that you do.In this article, we provide you with an important comparison between the real estate in Turkey and real estate in Lebanon as they are considered an amazing tourist attraction places and investment destinations in the Middle East.A general overview of the real estate in LebanonIn the heart of the Middle East, Lebanon stands out as a unique tourist destination for many Arabs and foreigners, and since the beginning of the current decade, the real estate in Lebanon has witnessed a great leap and a large increase.
Real estate sector now accounts for 25% – 30% of the total value of the Lebanese economy.But the turbulent conditions that the Arabic region has suffered from 2011, have imposed itself and created a big gap between supply and demand which put the real estate market in Lebanon in a bind, especially when comparing the purchasing power for the real estates with the real estate evaluated prices.
Despite the fact that there is a large number of construction projects in the Lebanese capital Beirut, where the flat price in some cases exceeded 1 million dollars.
Saying that the number of building permits in Beirut decreased by 8% in the first half of 2018 compared to the previous year, while the real estate deals also decreased by 17% during the first quarter of 2018 compared to the same period last year.A general overview of the real estate in TurkeyTurkey’s real estate market is a promising and ambitious market with great interactivity, especially when it comes to the flexible government laws and regulations that facilitated the foreign ownership of real estates in Turkey, where those laws and regulations shifted the real estate investment to new levels.
After only ten months of activating The law abolishing the principle of reciprocity and allowing the citizens of a number of countries around the world to own properties in Turkey, foreigners could purchase about 21691 real estates, Arabs were in the top of the foreign investors list by about 2697 properties, equivalent to 10% of the total investment value for that period.In addition to that, the real estate in Turkey has a promising future and its current market is unique due to the investment diversity and economic strength of the Turkish state, which is, in turn, related to the political and economic stability of the Turkish state.
The number of houses that have been sold to foreigners in 2017 was about 22234, which is an annual increase of 22.22%.The Turkish government’s efforts continue in supporting investments in Turkey through a package of measures and offers, including a number of tax incentives as well as reductions in investment ratios that entitle the investor to obtain the Turkish citizenship.After we had this quick overview of the real estate market in both Turkey and Lebanon, let us go deeper to see what is characterizing the real estate in both countries:Views of houses in LebanonLebanon has a unique view that makes its houses one of the most important tourism destinations in the Middle East.