|Last Updated: Feb. 20, 2013|
|BEIRUT - Apartments||COST (US$)||YIELD (p.a.)||PRICE/SQ.M. (US$)|
|TO BUY||MONTHLY RENT||TO BUY||MONTHLY RENT|
|150 sq. m.||538,650||1,623||3.62%||3,591||10.82|
|225 sq. m.||845,325||2,354||3.34%||3,757||10.46|
|275 sq. m.||1,261,425||2,786||2.65%||4,587||10.13|
|400 sq. m.||1,887,600||4,592||2.92%||4,719||11.48|
| Districts researched
Ras Beirut: Ain El Mreisseh, Ain El Tineh, Clemenceau, Hamra, Manara, Rouche/ Raouche, and Sanayeh
Central Business District: Centre Ville and the new marina (Solidere), Moussaytbeh: Ramlet El Bayda, Verdun, and Saifi
Source: Global Property Guide Definitions: Data FAQ See also: Update Schedule
The extraordinary rise in prices in Beirut over the last five years continued during this past year. Our December survey found that prices for Central Beirut apartments, prices of US$4,200 to US$6,800 per square metre are now typical.
When we did our first survey in 2004, prices averaged around US$1,200!
That is an increase of around 5 times over six years. Even more surprising, the Lebanese Pound has barely moved against the US dollar during this period.
Gross rental yields in Beirut have dropped significantly over this period, as would be expected, as a result of the price rises. Gross rental yields on Beirut apartments now range from 2.7% to 3.5%. That compares with gross rental yields six years ago, which averaged 10% to 11%.
We believe such high prices and low yields are unlikely to be sustainable.
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