LEBANON. — Byblos Bank Headquarters — Byblos Bank issued the after-effects of the Byblos Bank Absolute Acreage Appeal Index for the additional division of 2018.
The after-effects appearance that the Index acquaint a account boilerplate of 43.7 credibility in the additional division of 2018, basic an access of 31.8% from 33.2 credibility in the aboriginal division of 2018 and a abatement of 16.3% from 52.3 credibility in the additional division of 2017. The second-quarter after-effects aggregate their 14th everyman akin in 44 anniversary readings.
Commenting on the results, Mr. Nassib Ghobril, Chief Economist and Head of the Economic Analysis and Analysis Department at the Byblos Bank Group, said: “the access of the Index in the additional division of the year was mainly due to the advertisement in April by the ministries of Finance and Social Affairs that the government intends to admeasure LBP 1,000 billion to angel absorption ante on apartment loans, which aloft expectations that affordable mortgages for limited-income citizens will resume afterwards their abeyance at the alpha of the year.”
He added “another important, but understated, agency that contributed to the advance of the Index is the actuality that Banque du Liban and bartering banks candy pre-approved applications for subsidized apartment loans that were awaiting during the aboriginal division of the year, which allayed the apropos of applicants at the time.”
However, Mr. Ghobril cautioned that ”the access of the Index in the additional division should not be beheld as a change in the dynamics of the apartment market, as the advance comes from a actual low abject afterward the first-quarter after-effects that constituted the Index’s third everyman akin in 44 anniversary readings.”
Further, the Index’s boilerplate account account in the additional division of 2018 came 67% lower from the aiguille of 131 credibility registered in the additional division of 2010, and remained 60% beneath the anniversary aiguille of 109.8 credibility acquaint in 2010. Also, it was 27% lower than the Index’s account trend boilerplate account of 60 credibility back the Index’s birth in July 2007.
The answers of respondents to the Index’s analysis questions in the additional division of 2018 appearance that 4.9% of Lebanese association had affairs to either buy or body a residential acreage in the advancing six months compared to 3.8% in the aboriginal division of the year and to 5.9% in the additional division of 2017. In comparison, 6.8% of association in Lebanon, on average, had affairs to buy or body a residential assemblage in the country amid July 2007 and June 2018, with this allotment peaking at about 15% in the additional division of 2010.
Mr. Ghobril advised that ”Lebanese citizens charge to see the authorities’ intentions to restore subsidies on mortgages translated into accurate measures, as any adjournment or ambiguity about this affair may cavity the expectations of households and, in turn, added abate appeal for housing.”
He acicular out that ”the advancing abeyance of the subsidy affairs will abide to counterbalance on the alertness of -to-be buyers to access a residential unit, accustomed that affairs a abode constitutes one of the best important advance decisions for the Lebanese, and the amount of a abode is usually the distinct best important non-financial asset for Lebanese residents.”
He acclaimed that ”it charcoal the albatross of the controlling annex to not alone awning absorption subsidies on apartment loans for limited-income citizens, but additionally to booty the advance in developing a absolute apartment action that stimulates appeal for all segments of the residential apartment bazaar in Lebanon.”
The after-effects of the Index appearance that appeal for apartment was the accomplished in the South in the additional division of 2018, as 7.8% of its association had affairs to body or buy a abode in the advancing six months, compared to 3.4% in the aboriginal division of 2018.
The Bekaa followed with 6% of its association planning to body or buy a residential assemblage in the advancing six months, up from 1.7% in the above-mentioned quarter; while 4.6% of association in Mount Lebanon had affairs to buy or body a house, about to 3.2% in the antecedent quarter.
In addition, 4% of association in the North intend to buy or body a house, bottomward from 6% in the above-mentioned quarter, while 3% of association in Beirut had affairs to body or buy a residential unit, bottomward from 4.6% in the aboriginal division of 2018. In parallel, absolute acreage appeal added amid all assets brackets in the additional division of 2018.
The Byblos Bank Absolute Acreage Appeal Index is a admeasurement of bounded appeal for residential units and houses in Lebanon. The Index is compiled, implemented and analyzed in band with all-embracing best practices and according to belief from arch indices worldwide.
The Index is based on a contiguous account analysis of a nationally adumbrative sample of 1,200 males and females active throughout Lebanon, who reflect the demographic, regional, religious, able and assets administration of Lebanon. The surveyed bodies are asked about their affairs to buy or body a abode in the advancing six months.
The Byblos Bank Economic Analysis and Analysis Department has been artful the Index on a account abject back July 2007, with November 2009 as its abject month. The analysis has a allowance of absurdity of ±2.83%, a aplomb akin of 95% and a acknowledgment administration of 50%.
The account acreage analysis is conducted by Statistics Lebanon Ltd, a bazaar analysis and opinion-polling firm.
Photo Caption: Mr. Nassib Ghobril, Chief Economist and Head of the Economic Analysis and Analysis Department at the Byblos Bank Group
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