Beirut real estate boom makes buyers choose smaller flats

Bloomberg

When Fadia Srour’s husband proposed 38 years ago, one of her conditions was an apartment of no less than 180 square meters (1,940 square feet) in Beirut or suburbs, so she would have living space similar to her parents’ house.

Srour advised her two eldest daughters to do the same when they married more than a decade ago, when middle-income families in Lebanon could afford mortgages on such spacious homes. Now, Srour has one daughter left at home, and she knows she can’t expect the same if her youngest marries.

“Things have changed and the younger generation would be lucky to live in a quarter of the space we live in,” Srour, 58, said by telephone from the family home.

Source: Bloomberg FULL STORY