Abstract:
The behavior of the real estate market is driven by the fundamental force of supply and demand in the market. On the supply side, the main features are the effect of construction permits and cement deliveries that reflect the supply that enters the market each year. As for the demand side, the most significant factors include demographic, financial and social factors. This project helps clarify the supply and demand relationship by analyzing the major components affecting housing demand, and investigating the impact of these components on demand using market research and an econometric analysis over a period of 12 years. Following the introduction in Chapter 1, Chapter 2 will demonstrate an overview of the social and economic situation in Lebanon by observing the performance of several indicators and comparing them in recent years. Then, Chapter 3 will provide an insight on the real estate market in terms of house prices, demand, supply, shift in trends and financing. Chapter 4 will introduce the model used to determine the drivers of real estate demand in the Lebanese economy and their effect on sales transactions. Finally, concluding remarks about the Lebanese real estate sector are stated in Chapter 5.
Description:
Project (M.A.F.E.)--American University of Beirut, Department of Economics, 2013.
First Reader : Dr. Simon Neaime, Professor, Department of Economics--Second Reader ; Dr. Isabella Ruble, Assistant Professor, Department of Economics.
Includes bibliographical references (leaves 53-54)