Syria

Property for sale in Syria

The Arab Republic of Syria, or simply Syria, is a Near East State. The capital is Damascus. It borders to the north with Turkey, to the east with Iraq, to the south with Jordan, to the west with Israel and Lebanon. Always in the west it overlooks the Mediterranean Sea.

The prices of properties for sale in Syria in Damascus and in some Syrian cities have increased again, while the destruction in areas outside the regime's control has increased widely.

The World Bank estimates the number of homes destroyed in Syria to 1.7 million, or 27% of Syria's total housing, with an approximate infrastructure value of about $ 60 billion. Real estate prices in emerging areas like Al-Razi(in Damascus, near the Iranian embassy in Mezze Street, are expected to achieve a record level.

The Deputy Minister for Housing and Urban Development in the Bashar al-Assad regime, Nasr Younis, ascribed the increase in property prices for sale in Syria to the lack of land available for construction, the complexity of the authorities operating in the housing sector and the high prices of construction materials and wage labour, in addition to the high rate of population growth disproportionate to economic growth and development, which has led to an increase in demand for supply and high property prices.

The price increase is not limited to the purchase of houses and property for sale in Syria, with rents that show an impressive increase.