Recent research has suggested that emerging markets around the world are continually outperforming their more established rivals in the real estate sector.
And now figures released during the Beirut International Property Fair suggest that this trend is becoming even more widespread.
Indeed, Fuad Fleifel, director general of the economy ministry in Lebanon has claimed that property values in the country have risen by nine per cent in the first eight months of 2009, with expectations that they will rise by between ten and 15 per cent until 2013.
"Lebanon has gone against the current of the international financial crisis
in the real estate sector," the minister said. "There are voices inside the Cabinet that are calling for an increase in taxes on real estate investments and others are calling for a suspension of work on a decision to re-evaluate real estate assets."
According to the latest Global Retail Market View from CB Richard Ellis (CBRE), the ongoing growth of the middle class within emerging markets is helping to drive their growth.
- Friday 26 November 2010