With deluxe home buyers turning their backs on traditional villas and luxury apartment is Central Beirut, thanks to the sky rocketing prices of property in Beirut and its suburbs, the search for luxury real estate and apartments for sale in the luxurious suburbs of Lebanonis the only available alternative. This is true in particular in famous locations such as Adma, Rabieh, and Baabda.
Building consents for standard apartments have increased tenfold in ten years and figures show continuos increase in people buying smaller apartments ranging from 90 to 140 m2.
Lebanese developers battling to keep up with demand for smaller flats, flooded the market with tens of thousands of small apartments available for sale as of early 2017.
Large and luxury flats have become the trade of only few daring developers that still are willing to cater for a niche of few unique clients still can afford such apartments. Adma 236 features five blocks of 23 luxury real estate and apartments for sale in Mount Lebanon, and is still under construction with seven apartments already sold.
Experts say Adma is witnessing a sea-change in demand especially after initiating its long overdue own municipality, placing Adma 236 more in line with upper standard cities and where luxurious apartment living is the norm.
Its unique location makes it the perfect place for luxury home owners looking for a formidable sea view overlooking Jounieh Bay. Adma 236 is four minutes away from Casino du Liban, twenty minutes from centre of Byblos and in mid way between Tripoli and Beirut.
With more businesses opening in Adma, all living facilities are in a short driving distance – Gyms, Supermarkets, renown schools (Antonine Sisters School), Universities, Hospitals (KMC – American University of Beirut), Cafes, Fast Foot, etc. Adma has become a more attractive choice for buyers from North Lebanon working in Beirut and its suburbs.
The real estate market in Adma Lebanon witnessed a steady climb in demand and prices per units and property. This higher demand for this luxurious location is driven by its unique location. Adma 236 offers in addition the greenery surrounding the project and the wider streets driving more comfortably. It also offers for home owners the feel of uniqueness as there are no two apartments alike in the entire project. The exterior look of the buildings in Adma 236 is a village-like private community with each apartment available for sale unique by itself.
“These apartments are expensive and don’t come cheap because it costs a lot to build them.”
Selling real estate and apartments in Adma 236 Lebanon is a challenge, the developers – RK Group – designed the project in such a way to make maximum use of its location. All the front and side facades of the living areas are from glass rising 3 meter high. The cost for such material can add easily $400 per m2 compared to traditional blocks and cladding. The apartments for sale in Adma 236, Mount Lebanon are fully tiled with Open-Book grade A imported marble with sizes as large as 100 cm to 120 cm square or rectangular. Also, each apartment available for sale is equipped with a modern fire place embedded in the glass facade facing Jounieh Bay.
The factors driving the boom in luxury apartment sale in Adma include affordability, traffic jam, lifestyle, higher quality builds and Lebanese relaxed bank lending rules.
“High prices in Beirut and its direct suburb in particular Baabda have fuelled demand for apartments in Adma and led to a change in mindset by some Lebanese especially those coming from North Lebanon, who are looking for vicinity to their home towns and for the luxury life. They now see Adma as a viable option for the home owners seeking to live in a central location.”
The average dwelling value in Central Beirut, which is mainly apartments, is about $450,000 for an apartment as small as 90 m2, while owning a luxury 360 m2 apartment is Adma 236 will cost around $1,000,000
“Larger real estate and apartments in Adma Lebanon offer a more affordable housing option than a stand-alone home or a similar apartment in Beirut” .
Adma 236 Buildings are currently still under construction which come with the promise of swish rooftop spaces, lap pools, common infinity pool, and light-filled living areas. The project has the city’s best schools, restaurants, parks and entertainment on their doorstep.
Bankers state that apartment sales in Lebanon are also being buoyed by relaxed lending and low interest rates.