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The scary case of Article 50 of the 2018 budget

The Jade

Legendary Member
#61
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 ?
What is 3.3Billion for the gulf????
If this could be a start for the settlement, they'll pay 10 times that.

The point is not to buy high end luxury apartments, it's to buy a residency permit.
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
You don't propose a controversial article and go to such lengths just to give a "slight push".
The government itself isn't labelling it as a "slight push".
But they're lucky to have you defending what they aren't even defending.

The fact that now we're fighting an unequal fight, the lebanese are gonna be the biggest losers!
Consider this as a 10 year investment (forget the palestinians). Real Estate will always grow in Leb.
Yes it's slumping now, but it will grow again soon.

By encouraging rich foreigners to invest, only a minimal proportion of Lebanese will benefit from it, and with the prices going up with no supported loans from the central bank, the lebanese won't be able to invest in real estate anymore because they don't have the funds.
 
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  • The Jade

    Legendary Member
    #62
    Don’t lie they were always against it
    They changed the residency from permanent to conditional
    But the majority decide in parliament
    50 MPs voted for this budget which includes this article.
    If the FPM was against it (27 MPs that is), then the budget wouldn't have passed.
     

    JeanH

    Well-Known Member
    Orange Room Supporter
    #64
    You don't propose a controversial article and go to such lengths just to give a "slight push".
    The government itself isn't labelling it as a "slight push".
    .
    everything governments do around the world is overblown , off course they are ghonna say its great and its huge and fantastic and ....
    what do you expect saad hariri to come out and say : well... we're ****ed , so maybe this can bring in some much needed cash, anyone who even considered buying an apartment will now be deterred .

    as for the rest , lets agree to disagree my friend
     

    The Jade

    Legendary Member
    #65
    Ha ha
    27 were not here 8/9
    Liar
    They lost the vote for this article
    50 was the vote for whole budget
    Ah, so you're telling me that the block wasn't there for the most important vote of the year?
    What kind of MPs do you have???

    Raed Khoury defended the budget.
    FPM ministers supported the budget.

    How can you even say that they were against it?
     

    The Jade

    Legendary Member
    #66
    everything governments do around the world is overblown , off course they are ghonna say its great and its huge and fantastic and ....
    what do you expect saad hariri to come out and say : well... we're ****ed , so maybe this can bring in some much needed cash, anyone who even considered buying an apartment will now be deterred .

    as for the rest , lets agree to disagree my friend
    Oh, so the governemnt is lying now.

    What else have they overblown?
    The deficit? The number of jobs? The income?
     

    LVV

    Well-Known Member
    #67
    Ah, so you're telling me that the block wasn't there for the most important vote of the year?
    What kind of MPs do you have???

    Raed Khoury defended the budget.
    FPM ministers supported the budget.

    How can you even say that they were against it?
    You forget Frango deputies
    The deputies who left like Zouein or nkoula
    Finally they supported the budget
    But not this article
    They modified it to temporary residency from permanent
    Know they will abolish it
    I want to know
    Did Watini made a statement opposing this
     

    walidos

    Legendary Member
    Orange Room Supporter
    #68
    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
    You don’t need 300 in cash, you need 60k in cash and the rest bank loan... assuming you have a steady income. Anyhow I would like to read the law, some are saying it cannot be passed down others are saying it can. In all cases I don’t think it is useful, since anyhow the quota is exceeded, why put it in to start with? I also agree if it is applied and somehow the quotas are not respected, it can drive prices up. I find it silly that they even included it in the budget, do they expect any income from it?
     

    JeanH

    Well-Known Member
    Orange Room Supporter
    #69
    You don’t need 300 in cash, you need 60k in cash and the rest bank loan... assuming you have a steady income. Anyhow I would like to read the law, some are saying it cannot be passed down others are saying it can. In all cases I don’t think it is useful, since anyhow the quota is exceeded, why put it in to start with? I also agree if it is applied and somehow the quotas are not respected, it can drive prices up. I find it silly that they even included it in the budget, do they expect any income from it?
    which bank is gonna loan you 270 K without you making 5000 USD a month at least ?
     

    JeanH

    Well-Known Member
    Orange Room Supporter
    #70
    You don’t need 300 in cash, you need 60k in cash and the rest bank loan... assuming you have a steady income. Anyhow I would like to read the law, some are saying it cannot be passed down others are saying it can. In all cases I don’t think it is useful, since anyhow the quota is exceeded, why put it in to start with? I also agree if it is applied and somehow the quotas are not respected, it can drive prices up. I find it silly that they even included it in the budget, do they expect any income from it?
    this law is for rich individuals who spend time in lebanon: buy an expensive appartment ==>we'll make your life easier here
     

    Iron Maiden

    Her Royal Brincess
    Staff member
    #71
    Can i get some Tl;Dr answers from some benevolent soul here plz :)

    1- are appartments included in the 10% 6% limit of foreign ownership of real estate?

    2- is the residency limited to to the buyer? Can it go down the hereditary line?

    3- can a buyer give the house to someone else and if so will the other party benefir from residency?

    Thx
     

    JeanH

    Well-Known Member
    Orange Room Supporter
    #72
    Can i get some Tl;Dr answers from some benevolent soul here plz :)

    1- are appartments included in the 10% 6% limit of foreign ownership of real estate?

    2- is the residency limited to to the buyer? Can it go down the hereditary line?

    3- can a buyer give the house to someone else and if so will the other party benefir from residency?

    Thx
    regards to number 2 i think you can also get residency for your immediate family
     

    Aoune32!

    Well-Known Member
    #73
    So now with these rich citizens all over the world they will come to Lebanon buy in Lebanon decrease their taxes and gain PR and live happy ever after. Pathetic.
     

    JeanH

    Well-Known Member
    Orange Room Supporter
    #74
    So now with these rich citizens all over the world they will come to Lebanon buy in Lebanon decrease their taxes and gain PR and live happy ever after. Pathetic.
    why are you oversimplifying stuff ? its not a magic solution, and there is no one single solution, its just needed revenue for the state
     

    The Jade

    Legendary Member
    #75
    In red
    Can i get some Tl;Dr answers from some benevolent soul here plz :)

    1- are appartments included in the 10% 6% limit of foreign ownership of real estate?
    In theory yes, but according to reports, we've already passed this limit, which means that it's there just to decorate some lonely white papers.

    2- is the residency limited to to the buyer? Can it go down the hereditary line?
    Spouse and children are eligible

    3- can a buyer give the house to someone else and if so will the other party benefir from residency?
    Not sure
    Thx
     

    Dark Angel

    Legendary Member
    #76
    Can i get some Tl;Dr answers from some benevolent soul here plz :)
    just keep in mind, there is no such thing as a free lunch. one day i may call you at midnight to help me bury a body, and you are going to say yes, because you owe me one.

    1- are appartments included in the 10% 6% limit of foreign ownership of real estate?
    it is 10% 3%, and yes. it they are included.

    2- is the residency limited to to the buyer? Can it go down the hereditary line?
    it is limited to one buyer. if memory serves me right, it cannot be inherited. a section of the law also addresses ownership by companies (owned by more than one person)

    3- can a buyer give the house to someone else and if so will the other party benefir from residency?
    giving the property to a third party or donating it to a non Lebanese is prohibited.
    uw. wait for my call :p
     

    walidos

    Legendary Member
    Orange Room Supporter
    #77
    which bank is gonna loan you 270 K without you making 5000 USD a month at least ?
    True, 4500$ and upwards as a household income, but this is not new, we haven’t been able to purchase property on a single income for a long time now... a couple earning together 4500$ is not massive I think... not for he vast majority but a good proportion I would expect
     

    Aoune32!

    Well-Known Member
    #78
    True, 4500$ and upwards as a household income, but this is not new, we haven’t been able to purchase property on a single income for a long time now... a couple earning together 4500$ is not massive I think... not for he vast majority but a good proportion I would expect
    $4500 is not massive? The average wage in Australia is $500 US a week. Average earning is $2000 US a month. If one earns 4500$ US a month in Lebanon i suggest he and his whole family move to leb.
     

    Iron Maiden

    Her Royal Brincess
    Staff member
    #79
    $4500 is not massive? The average wage in Australia is $500 US a week. Average earning is $2000 US a month. If one earns 4500$ US a month in Lebanon i suggest he and his whole family move to leb.
    The guy clearly said as a COUPLE

    But i still believe its a bit high of an estimation
     

    walidos

    Legendary Member
    Orange Room Supporter
    #80
    $4500 is not massive? The average wage in Australia is $500 US a week. Average earning is $2000 US a month. If one earns 4500$ US a month in Lebanon i suggest he and his whole family move to leb.
    Things are relative, I am not familiar with Australia, but average wage is 500$ a month, I would expect average houses to cost 100k maybe? And the basket of goods must alsonnot be very expensive... lebanon is much more expensive
     
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