The real estate market is the subject of much speculation, usually the negative kind. There are very few optimists who still see it as a lucrative sector. Yet the reality is not so bleak. Demand exists but only for the right product at the fair market price. Prices have started to adjust but effective drops are minor. Developers continue to look for new land to develop. Buyers, both local and expatriate, constitute a steady, end-user demand. The market rests on solid foundations. The only unknown that could either unhinge or improve this delicate balance is the political and security environment – something economic players have no control over. Slight price drops Real estate prices are the latest obsession of Beirutis. There is a consensus that apartment prices in Beirut have dropped. Opinions diverge about the exact magnitude of the drop. “Experts” flaunt percentages – anywhere between 10 and 30 percent.
