Makarem says both locals and expats are still keen to buy properties in Lebanon.
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Real estate developers in Lebanon are making a high return on their investments, dismissing the need to reduce prices, said an industry expert.Makarem explained that the minute a developer sells 60 percent of his project he would be covering his cost. Makarem reported a slowdown in demand on real estate due to regional instability and the deteriorating political situation in Lebanon. However, he expressed optimism because local residents and expats are still keen to buy properties in Lebanon. Makarem said Lebanon's real estate market succeeded in proving its resilience over the years when other countries were facing fierce economic problems.
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