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The average monthly index score for the second quarter of 2019 remains 64.5% lower than its highest quarterly score of 131 points in the second quarter of 2010, and 57.6% lower than the top annual average of 109.8 recorded in 2010.
The monthly average of the index in the second quarter was 21.4% lower than the monthly average of 59.2 points since the beginning of the index in July 2007.
When reading the index results, Nbadib Gabriel, head of the Byblos Bank Group's economic research and badysis department, said housing demand had declined in the second quarter of the year. This year was due to unclear measures in the 2019 budget, as well as vague and contradictory statements by some politicians about the support provided. Interest on home loans. This has led potential buyers to be cautious and adopt a wait-and-see attitude when they decided to buy a housing unit.
"Thanks to the stimulus plan of the Lebanese economy in 2019, the BDL helped to meet part of the demand for housing, when it supported interests on LBP 374 billion, or 248 million LBP. dollars in loans, "he said. Use it quickly. "However," said Mr. Gabriel, "the executive branch has primary responsibility for supporting housing loan interests to meet the needs of low-income Canadians, and the banking sector has filled this gap since 2009.
Lebanese citizens are still waiting for the government to take the initiative to develop a clear and comprehensive housing policy to stimulate demand for all categories of housing in Lebanon, especially for low-income people.
Survey
Respondents to the survey questions of the second quarter of 2019 indicate that 5.3% of citizens intend to buy or build housing in Lebanon over the next six months, compared with 6 , 3% in the first quarter of 2019 and 4.9% in 2017. In the second quarter of 2018, 6.7% of citizens announced their intention to buy or build housing in Lebanon between July 2007 and June 2019 , the highest figure reaching almost 15% in the second quarter of 2010.
"The real estate market requires concrete measures to boost demand for apartments. Any delay or uncertainty in this regard will continue to have a negative impact on household expectations and lead to a further decline in demand for apartments, "said Gabriel. Registration on residential units purchased but not yet registered is a decision to generate additional cash income, but the government should also reduce listing fees on future purchases, in order to convert the potential demand for real purchase housing. And should develop the rental option In addition, real estate stakeholders should promote rent as a viable housing option, as is the case in most other country. "
Residential units
The results of the second quarter index of 2019 showed that the rate of housing demand was highest among residents of South Lebanon. Indeed, 11% of residents in the said area are planning to build or buy a house in the next six months, that is, unchanged. The Bekaa residents' demand rate was followed by 6.9% of respondents who intend to build or acquire an apartment in the next six months, compared with 8.5% in the previous quarter. In addition, 5% of citizens in northern Lebanon have expressed a desire to buy or build a house in the short term, compared to 5.7% in the previous quarter. In Mount Lebanon, 3.3% of citizens intend to build or buy an apartment, compared with 4.9% in the previous quarter, while 3.2% of Beirut residents said they had the intention to build or buy a home within six months. Then compared to 3.8 in the first quarter of 2019.
In addition, the demand for apartments in all income categories declined in the second quarter of 2019.
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