“The second-quarter results constitute their 14th-lowest level in 44 quarterly readings,” the report said. (The Daily Star/Stringer)
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The Byblos Bank Real Estate Demand Index for the second quarter improved on prospects of a renewal of the housing loan program.Commenting on the results, Nassib Ghobril, chief economist and head of the economic research and analysis department at the Byblos Bank Group, said, "The increase of the index in the second quarter of the year was mainly due to the announcement in April by the Finance and Social Affairs ministries that the government intends to allocate LL1 trillion [$666 million] to subsidize interest rates on housing loans, which raised expectations that affordable mortgages for limited-income citizens will resume after their suspension at the beginning of the year.''Ghobril warned that the second-quarter increase should not be viewed as a change in the dynamics of the housing market, as the improvement comes from a very low base after first-quarter results that were the index's third-lowest level in 44 quarterly readings.
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