The scary case of Article 50 of the 2018 budget

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  • LVV

    Well-Known Member
    #42
    بالارقام، يوضح الدويهي "اننا تخطينا منذ زمن الحد او السقف القانوني. هناك 1313 مرسوما تتعلق بتملك اجانب لأكثر من 58 مليون متر مربع سبق واستُملكت، منها ما نسبته 95 في المئة في جبل لبنان وبيروت".

    اليوم، تضاف الى هذه المشكلة مسألة الشقق السكنية وربطها بالاقامة الدائمة. يعلّق الدويهي: "نحن في الاساس تخطينا الحد القانوني. ان نسبة الـ10 في المئة في بيروت التي يسمح بها القانون وصلت الى حدود الـ22 في المئة، اما نسبة الـ3 في المئة خارج بيروت فهي قاربت الـ6 في المئة، وتحديدا في المتن الجنوبي والمتن الشمالي. ببساطة، تضاعفت الارقام، فعن اي نسب تملّكٍ يتحدثون بعد، وهم تخطّوا الحدود القانونية؟"

    These numbers are not officiall numbers
    GCR said he will change the law when elected
     
    #44
    In Lebanon, real estate "investment" is nothing short of a dirty word. It was real estate investment that made prices soar to unrealistic levels and lead to the current stagnation in the market. The country is overcrowded with one of highest population density on the globe and the population can't afford houses for themselves, sometimes including couples who both work to make ends meat.

    There is no reason whatsoever to encourage buying real estate for investment purposes. If someone owns a house they don't actively live in as an "investment", they should pay a respectable amount of extra taxes on that property, in order to discourage this practice. Especially for foreigners, but this should also applies to Lebanese real estate investors.

    No matter how one tries to spin and provide justifications, the motives of passing this law are clear in who's interest.

    “When you have eliminated the impossible, whatever remains, however improbable, must be the truth.”
     

    LVV

    Well-Known Member
    #45
    Guys price of real estate went down 30 percent
    It is acceptable know
    It is around 1500 $ in most regions in mount Lebanon
    1000 Dollars in other regions
    3000/4000 in Beirut
    Getting down more is a sign of collapse
     

    Lebnaouneh

    Well-Known Member
    #46
    On the palestinian/syrian danger, while permanent residency will not grant them citizenship NOW, but it paves the way for it.
    Not for today or tomorrow, but a few years down the line.
    A few years back, it was completely unthinkable for palestinians to have certain jobs that would've put many Lebanese out of work. It happened.
    It was unthinkable that Palestinians or Syrians could get citizenship, but it happened under Hrawi and Hariri Sr.
    It was unthinkable to give them permanent residency, and now the door is wide open.


    Because it's the beginning of the path, refer to the above.
    Laws and the constitution have been known to be broken in Lebanon....on so many occasions.
    What guarantees do we have that this will stop?

    Actually you're not getting this right, you need a better calculator to start with.
    You used this figure with the assumption that they will buy property ONLY in Beirut.
    But anywhere outside Beirut it's 330K.
    The residency is automatically granted to spouses and children.
    This means that it will take merely 3.3 Billion for 10,000 HEADS OF FAMILIES.
    If we count on average 4 members per family, that's 40,000 palestinians for 3.3 Billion dollars.
    Your 50 Billion $ actually buys the residency for 660,000 people.....basically all palestinians.
    Do you know what 50B $ is for gulf states? Chump change......They blow that much on a birthday party so to speak.....

    Now we all know that foreigners and refugees were granted citizenships en masse in the past, what would stop the government from doing it again?
    And when that door opens, you'll have hundreds of thousands of people eligible for it.

    What will you say then?
    Liberal media made you do it?

    Residency CAN be passed on.
    It's been passed on for years.
    Why change it now if it's not to incite more foreigners to invest?

    The only temporary winners are real estate companies, the average Lebanes who doesn't own real estate to live in or to sell is screwed!
    How will they be able to afford an aparatment if the kard mad3oum is not available anymore but the floodgates are open for gulf countries????


    Satiated yet?
    Woops miscalculated, and didn’t incorporate the fact that it’s heads of families
    You’re right FPM shouldn’t accept that and this article should be amended
     
    #47
    Guys price of real estate went down 30 percent
    It is acceptable know
    It is around 1500 $ in most regions in mount Lebanon
    1000 Dollars in other regions
    3000/4000 in Beirut
    Getting down more is a sign of collapse
    Price drop without a high volume of sales = stagnation. It means there is few selling at market price and the rest speculatively holding.
    There is no risk of collapse unless all Lebanese economy collapsed first.
    Because most house owners will keep their houses for life.
     

    JeanH

    Well-Known Member
    Orange Room Supporter
    #48
    any expat who can afford a half a million dollar appartment is welcome, especially now, how many syrians or palestinians have half a million to spare for an appartment? if you find any they are welcome
     

    The Jade

    Legendary Member
    #49
    any expat who can afford a half a million dollar appartment is welcome, especially now, how many syrians or palestinians have half a million to spare for an appartment? if you find any they are welcome
    What about 330K dollar apartments?
    Eitherway, a huge influx of money will drive prices up again and will become unattainable by the average Lebanese especially that they can't get favourable loans anymore.
    Unless you're in real estate, do you think you'll see a whiff of that money?

    As for palestinians and syrians, the gulf states have been pushing for a long time for the resettlement in Lebanon.
    Do you think they won't get the funds from there?
     

    HannaTheCrusader

    Legendary Member
    Orange Room Supporter
    #50
    تركلي الاسرة الدولية، هو بلبنان ما حدا بيرد عليك
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    Jean added,

    LBCI Lebanon NewsVerified account @LBCI_NEWS
    البطريرك الراعي في نداء الى الاسرة الدولية: نناشد ضمائر الدول العظمى العمل على انهاء الحرب واحلال السلام بالطرق الديبلوماسية فمن حق شعوب الشرق الاوسط ان تعيش بسلام ونحن نعرف كيف تبدأ الحروب لكننا لا نعرف كيف تنتهي
    hahahah

    true that batrak is just another usuless clergy
     
    #51
    any expat who can afford a half a million dollar appartment is welcome, especially now, how many syrians or palestinians have half a million to spare for an apartment? if you find any they are welcome
    First, expats don't need residency.
    Second, expats or foreigners with spare cash to buy $500,000 house and use it once a year on vacation or worse rent it to Lebanese living in Lebanon - while otherwise not interacting or offering intrinsic lasting gains to Lebanese economy - are useless.
    This kind of investment should be actively taxed and discouraged, if not aggressively combated.

    You are rich Lebanese expat who considers Lebanon a vacation zone? OK pay good taxes because your vacation hurts the Lebanese economy.
    You are foreigner who want residency in Lebanon? Offer something to the country like opening a business that meaningfully contributes to the economy and local growth. Parking money in the form of a vacation home doesn't help the economy.
     

    JeanH

    Well-Known Member
    Orange Room Supporter
    #52
    What about 330K dollar apartments?
    Eitherway, a huge influx of money will drive prices up again and will become unattainable by the average Lebanese especially that they can't get favourable loans anymore.
    Unless you're in real estate, do you think you'll see a whiff of that money?

    As for palestinians and syrians, the gulf states have been pushing for a long time for the resettlement in Lebanon.
    Do you think they won't get the funds from there?
    i am not in real estate no.
    also 330 k in cash is no small amount by any means.
    ther palestinians that have 330k IN CASH to spare can immigrate to the west easily .
    prices wont go up , there wont be a huge amount of buyers plus 330K is the price of a high end appartment, if it drives up anything it would be the high end appartments , and it wont
     

    JeanH

    Well-Known Member
    Orange Room Supporter
    #53
    First, expats don't need residency.
    Second, expats or foreigners with spare cash to buy $500,000 house and use it once a year on vacation or worse rent it to Lebanese living in Lebanon - while otherwise not interacting or offering intrinsic lasting gains to Lebanese economy - are useless.
    This kind of investment should be actively taxed and discouraged, if not aggressively combated.

    You are rich Lebanese expat who considers Lebanon a vacation zone? OK pay good taxes because your vacation hurts the Lebanese economy.
    You are foreigner who want residency in Lebanon? Offer something to the country like opening a business that meaningfully contributes to the economy and local growth. Parking money in the form of a vacation home doesn't help the economy.
    sorry i ment non Lebanese not expat
     

    The Jade

    Legendary Member
    #55
    i am not in real estate no.
    also 330 k in cash is no small amount by any means.
    ther palestinians that have 330k IN CASH to spare can immigrate to the west easily .
    prices wont go up , there wont be a huge amount of buyers plus 330K is the price of a high end appartment, if it drives up anything it would be the high end appartments , and it wont
    Again, palestinians will get bankrolled by the gulf.
    At least in Lebanon they'll get a home, western countries will hardly accept them.

    And in Lebanon 330K is not high end anymore, it's middle.
    The government is launching this initiative specifically to encourage investment and bring more money into the country.
    Both the minister of economy and the prime minister stated that.

    This means that they're expecting a large inflow of funds.
    Why would they do that if they weren't?
     
    #57
    It would have been better to consider investment as starting a business and creating X number of jobs for Lebanese citizens. Such investors should get permanent residency.
     

    JeanH

    Well-Known Member
    Orange Room Supporter
    #59
    Again, palestinians will get bankrolled by the gulf.
    At least in Lebanon they'll get a home, western countries will hardly accept them.

    And in Lebanon 330K is not high end anymore, it's middle.
    The government is launching this initiative specifically to encourage investment and bring more money into the country.
    Both the minister of economy and the prime minister stated that.

    This means that they're expecting a large inflow of funds.
    Why would they do that if they weren't?
    no outside beirut its still high end, you cant get a housing loan for that value of an appartment, in fact it should be half of that , you expect the gulf to pay 3.3 billion dollars to buy high end luxury appartments for palestinians in lebanon ?
     

    JeanH

    Well-Known Member
    Orange Room Supporter
    #60
    This means that they're expecting a large inflow of funds.
    Why would they do that if they weren't?
    i dont think they expect anything large in particular, just a slight push for the stagnant economy economy, they set the prices pretty high, they are targetting rich individuals, if it was low you may have something to worry about, but i am not buying it