At $3,223 Per SQM. Beirut Apartments, 2nd Most Expensive Regionally
The annual “Global Property Guide,” report ranked Beirut as the 50th most expensive city globally in 2011, in terms of the price of an average apartment.
Regionally, Beirut ranked second behind Dubai. In Beirut, the average price per square meter was at $3,223.
The figures for Beirut covers Achrafieh, the Beirut Central District, Hamra, Jnah, Ramlet El Baida, Ras Beirut, and Verdun.
The report mentioned that the price of a square meter in Beirut Central District upsurged by five times in the past five years.
It also indicates that Beirut’s price-to-rent ratio was 22, higher than the Arab average of 16, which means that it could take up to 22 years of rent to cover the purchase price of an average 150-square-meter apartment in Beirut.
Beirut’s average rent was $1,872 for a 150-square-meter apartment, higher than the Arab average of $1,526 per month.
Globally, Beirut ranked in 36th place among 82 markets in terms of average monthly rent of a 150-square-meter apartment. It ranked in second place regionally.
STRATEGIES & PLANS
A fundraising event, entitled Think Green, will be held by Zero Waste ACT for all its business members on September, 10,2013, at WHITE, Dora.
The Green Mind Association invited all Green Mind Award Participants, finalists, runner ups and winners to the GREEN MIND DAY on Jan-16-2013 in Beirut, to create a platform where interested Venture Capital and Potential Investors met with participants.
A green initiative launched by Ashrafieh 2020 project aims to transform Ashrafieh into a tranquil and unpolluted area.Green spaces allow residents to walk and ride bicycles.