29.06.2012 - Lebanon: Residential real estate bubble set for stagnation as demand slows
At one point several years ago, it seemed as if the whole Levant was in love with real estate. Everyone from taxi drivers, delivery boys, gas station attendants and newly married couples, as well as the developers and brokers who were already players in the sector, were looking to make an extra buck. That picture, however, has changed to some extent. “Expectations were that prices would only go up,” says Nassib Ghobril, chief economist for Byblos Bank, about the pie-in-the-sky hopes of average investors in buying flats or becoming part-time brokers...............................................Full Article: Source
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