Buildings under construction in Beirut 's Ain Mresiseh neighborhood, Friday, March 18, 2016. (The Daily Star/Hasan Shaaban)
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The Lebanese seemed more inclined to invest in new properties thanks to the low interest rates on mortgages, a new survey by Byblos Bank showed.The report said that the share of residents who had plans to buy or build a residential property in Lebanon gradually decreased from 7.5 percent in December 2016 to a low of 3.4 percent in March 2017 during the first six months of the year, before improving to 7 percent in June."Buying a residential unit constitutes one of the most important investment decisions for the Lebanese, and the value of a house is usually the single most important nonfinancial asset for resident Lebanese," Ghobril said.He warned that increasing taxes and fees on the real estate sector could discourage the Lebanese to make new investments in properties in the future.
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