Walid Moussa
President of the Syndicate of Real Estate Brokers and Consultants in Lebanon
“Political and security tensions have eased following Hassan Nasrallah’s latest speech. The situation has thus returned to more manageable levels. Objectives are now clearer and more defined. Many displaced people have decided to return home, while those who were considering moving to safer areas have chosen to stay put. This led to a decrease in demand for seasonal rentals.
Moreover, July and August are traditionally the most expensive and sought-after months for furnished and seasonal apartments. At the end of this period, it is normal to have a decrease in demand and consequently in prices.
During the summer, especially in July and August, prices of rents can double or triple compared to other months. These two months being the hottest of the year, landlords in mountain villages often raise rates. It is therefore logical to see a significant drop in prices now.
I can confirm that we will not see the price increases of the past two months again before the next summer season. Although there is a ski and winter season, it remains very modest compared to the summer season.”
Video report adapted in English by Joanne Naoum, supervized by Tilda Abou Rizik
