In 2020, the real estate market in the GCC suffered quite the blow as most projects were temporarily halted to deal with the Covid-19 pandemic. This stoppage of new projects caused quite the steep decline of prices as well as in rent of real estate across the Gulf nations. However, it seems that there’s light at the end of the tunnel for the housing market in 2021.

I have been hearing from different real estate developers and experts working in the region that they are considering a freeze on new real estate housing projects to reduce the supply gut and…

With 2020 finally coming to an end, we find ourselves looking a bit more optimistic towards the future. It has been a chaotic year for the real estate market to say the least.

For 2021, I am a bit more hopeful regarding certain sectors of real estate, however in my opinion the actual numbers won’t change much. In this first blog, I will tackle the situation in the United States and Europe and then expand to Asia and the GCC in other segments.

Photo by Luke Thornton on Unsplash

Due to high demand and low housing inventory, the 2021 housing real estate market will favor sellers for the most part. With the ongoing Covid-19 pandemic, we have seen people running away from infected urban crowded cities towards more rural regions. I don’t expect this trend to end anytime soon because most companies have been cutting costs from paying enormous amounts of rent in busy and trendy…

It is true that Lebanon’s 2020 has been far from peaceful and fruitful. The country has been through political and financial instability that shook the banking sector and is still suffering from the devastating outcome of the 4th of August explosion that destroyed the port and half the capital Beirut. Add to that the Covid19 pandemic and its catastrophic economic consequences due to lockdowns and restrictions. However, to everyone’s surprise, one sector boomed, the real estate market.

Real estate demand decreased across all income brackets in the third quarter of 2020 - Photo by: martenbjork

Investors, myself included, now see Lebanon’s real estate sector as the safest investment as depositors try to release their deposit from banks. However…

Hamad Al Wazzan

Active in the restaurants (F&B) and real estate sectors, born and raised in Lebanon, Harvard graduate. Active writer on the real estate sector.

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store