Investment from Lebanon’s global diaspora has helped prop up prices during periods of strife.
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despite the six years of war in neighbouring Syria that has battered Lebanon's economy, apartments, offices and shopping centres continue to be built in the city at startling rates.As many point out, Lebanon's property sector is underpinned by constraints in supply and steadily growing demand.Investment from Lebanon's global diaspora, estimated variously at 10m-15m people, has helped prop up prices during periods of strife. But, conversely, Lebanon's property market can also be affected by events well beyond, as well as close to, its borders.Since then, Bank Audi's Mr Barakat says prices have dropped by about 20 per cent while demand has shifted to smaller apartments and properties outside Beirut.
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