(The Daily Star/Hasan Shaaban)
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With regional turmoil, the government on hold, and a drop in personal wealth and property demand, how can Lebanon recover from its real estate slump?Under the title Real Estate Sector, Basis for Economic Growth, the two-day conference, held by the Real Estate Syndicate of Lebanon, under the patronage of Prime Minister Saad Hariri, discussed Lebanon's real estate history and difficulties facing the sector, as well as trends and opportunities for the future, such as improvements in infrastructure and private-public partnerships.For nearly three decades, building prices steadily climbed, even during periods of political instability, such as the 2006 war and the 2008 political crisis.This has led to a recent decline in property prices and demand across all sectors – residential, retail and commercial.Nevertheless, some believe this current "correction" in Lebanon's real estate market could be an opportunity to boost the sector.
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