Beirut: There are offers, but the prices are exorbitant. 24-year-old professional Lana arrived in Lebanese capital Beirut four months ago and had ambitions to return to his home country after leaving the comfortable Switzerland where he lived for three years. But looking for her rent, she didn’t know what to expect.
“I started looking for a house through a broker two months before I arrived in Lebanon. The most visited areas are Mar Mihayer and Achrafiye, areas where residents were evacuated after the 4 August 2020 explosions,” Rana said. arab news in french.
“I visited the homes of locals, imagined myself in their position, saw the conditions they lived in, and no one was happy. He told me about the water situation Basic services are now considered a luxury in this country Houses with good living conditions such as 24/7 electricity and quiet surroundings was difficult to find,” continues the young music management professional.
As the new school year approaches, Lebanon faces a new crisis of housing insecurity. Explosive price increases due to the influx of foreigners have made it increasingly difficult for resident Lebanese whose income is in Lebanese pounds to find or sustain housing (the currency loses its value in two years). lost more than 90%). Living in their homes while landlords increasingly demand rent payments in dollars. As a result of this instability, property prices and rents are soaring due to strong demand. But how much does it cost?
“My budget is At around 700 to 900 euros per month, it was more than enough to find accommodation with basic services in other countries. But with that kind of budget, experience shows that while you can find the worst apartment, it’s not the best option,” explains Lana. Everything is not what it seems.
“When I finally found a suitable place, the owner was not honest and I had to live without electricity or air conditioning for a month. Every time I contacted the owner he promised me that things would get better in the next week, this is called an ‘inchara’ in Lebanon. Unfortunately, this has become the mentality of most Lebanese. They always repeat, ‘This applies to the whole country.’
Lebanese can no longer rely on banks for mortgage loans. The challenge emerged more recently in the wake of the economic crisis that began in 2019 when the country’s bankruptcy began. The prices of fuel, food and materials are rising day by day as the exchange rate of the national currency against the dollar continues to fall. Those with higher incomes and more wealth can pay higher rents without having to buy, and low-income tenants, including young students, face an insufficient number of rental properties available. You will have to work hard to become
This dilemma for the country’s young hopefuls
If, despite some incidents, there was a chance that Lana would find a home, others who have not yet entered the professional world would be out of luck. Ellie Joe, a young master’s student, has chosen to stay with her parents.he expresses his determination arab news in french.
“I have been looking for an apartment near Beirut for a long time, close to my university and internship location. When I looked into it, I couldn’t find a house that fit my budget, and when I did find one, there was always some kind of problem that made life inconvenient,” the student explains. “I would rather pay for gas, despite the volatile price, than spend money on rent. I stay home and my parents take care of me.
Like Ellie Joe, there are hundreds and thousands of people looking for a home, but not everyone has the option of staying home. To fully understand the price range of rent in Beirut, arabic news in french We interviewed Mark, a broker who manages over 50 properties in the capital. He explains why rents are so expensive in this country right now.
“Furnished apartments that used to cost €2000 a month are now being rented for €1200, so owners are losing a large part of their rental costs. For example, €400 is expensive for most Lebanese. You can’t deny the fact that it’s the price, but the owner can’t survive without it,” explains the 25-year-old agent.
“Most of our clients are young people and professionals from different countries and Lebanese regions. They all want to live near Beirut. But of course everyone gets what they pay for,” continues Mark.
Due to domestic fuel prices and the difficulty of obtaining fuel in some areas, the demand for living in and around Beirut is currently very high, which means rental prices continue to rise.
“As owners and due to the situation in the country, we must always find solutions to ensure that our customers get value for money. Today, the most popular solution for wealthy customers involves installing solar panels to solve their power problems.Everything in Lebanon has become budget dependent. ‘ said Mark.
Renting a home in Lebanon seems to reflect the reality of the country’s system. Some landlords mirror what Lebanese politicians are doing to the country. They take the time to provide decent living conditions for their tenants, live in their own luxury bubble – most of them live on income from rent – and all is well.
With people scrambling to find lasting solutions to their housing problems right before the start of the new school year, I can’t help but wonder. What other dangers will Lebanese have to face? And for how long?