The issue again is the land and construction costs, not the profits.The biggest problem is what you just illustrated. How in the world can I buy an apartment not a house a 3 bedroom apartment for 400K in the city? How can I simply afford to do it aslan? If one earns 20K a year how can one do it?
He needs 20 years if he puts all this figure away without the interest to pay off the loan. Something is really wrong with the country.
Houne in Australia mazbout house prices are really high(highest in the world) BUT you earn approx 60K. So if an apartment is 500K and you earn 60K in less than 10 years (if we use the same sums above) you will earn that house. So in Lebanon a country who has no electricity, no water, no infrastructure, cars more than humans it takes people twice as long to pay off their house!
Anyway, what we also have to realize is that owning an apartment inside Beirut isnt a right. So Beirut is very expensive, get an apartment elsewhere. Not every American, hell not every New Yorker lives in Manhattan. They kill themselves to live in a shoebox.
Theres always cities that are expensive and others that are cheaper. Lebnen kello add el atche and people dont wanna move one block. Thats how other cities get developped.