If you are re looking for apartments for sale in Lebanon, then here is a guideline for it but let’s take a look at the history of Lebanon first. Lebanon is an ancient country and has a history of about 5,000 years. As it was ruled by many different empires which made Lebanon versatile in its culture, society, and religion. The few events which had highlighted Lebanon in news are the protest against the assassination of the former prime minister, the bombardment of Israel, and the Beirut Seaport Ammonium Nitrate explosion which resulted in the death of hundreds of people.
Despite these incidents, people like its geographical location and want to move there.
Can foreigners purchase an apartment in Lebanon?
Yes! Foreigners are allowed to purchase or sell apartments under some restrictions. The total properties owned by foreign nationals in entire Lebanon is three percent and it’s approximately ten in Beirut.
Internationals can buy an apartment of 3000 meters square without any permission. If your apartment is commercial and more than the allowed limit, you need a permit or a decree from the Minister’s Council. You will be issued the license for property purchase and registration. After this, your decree will automatically be canceled, and to develop your purchased property you will be provided with a tenure of almost half a decade.
How many people like to live in Lebanon’s apartments?
Living in apartments is becoming trendy and from different statistics, it is concluded that only 8 % of the Lebanon nationals are living in various home types and the rest of the population is living in apartments.
If you want to buy any of the apartments for sale in Lebanon. The following things should be done:
- Select the locations where you want to buy an apartment. You can find them by using different platforms like BeiTeck
- For smooth and clear communication between the seller and purchaser, you should be able to talk in Arabic. If you can’t, hire someone for it.
- If you don’t find any property by yourself, consult a real estate agent who can help you out in finding your ideal property. Decide the commission percentage with the dealer.
- Visit the apartment to visualize the property.
- If you have decided to buy that specific apartment, then ask for the property paper and deeds.
- Don’t give any counter offer before the valuation of the property. You can do so by checking the market value, consulting with property experts, and other techniques.
- Ask for paid tax details and deeds to confirm that you are dealing with the real owner.
- If you have to ensure that all your requirements regarding the property are complete, then you can give a rebuttal price of the apartment.
- When you both agreed on a single price then you can sign a contract. You cannot deviate away from the purchase and sale agreement.
- Decide the type of payment and time when you will be paying to the seller.
- After you have bought the property, you should register it within one year
Average Apartment Cost
The price depends on various parameters like location, type of property, number of bedrooms, type of furnishings, etc. If you wish to buy an apartment in your town, you should have at least $100,000 on average.
We wish you good luck in getting one of the apartments for sale in Lebanon.