Libya

Property for sale in Libya

Libya is a State of North Africa. Libya occupies the central part of North Africa, overlooking the Mediterranean Sea around the Gulf of Sirte, is the fourth largest country in Africa, the seventeenth of the world. It borders on the north-west with Tunisia, on the west with Algeria, on the south with Niger and Chad, on the south-east with Sudan, on the east with Egypt.

 Libya's economy depends on the oil industry, but over the years the economy and the real estate market have been influenced by some policies of the Libyan government and by legislation that prevents property for leasing purposes.

This situation and the persistent post-revolution instability have led to fear of investors who find it difficult to buy property for sale in Libya.

After the revolution, real estate markets found themselves in disarray as many former owners of confiscated land came back to pressure for the reform of property laws and demanded compensation.

The development of Libya's financial sector has remained stagnant due to the instability of Libya, so today it is particularly difficult especially for low income or for small debtors to access housing finance and sometimes it seems impossible to buy property in sale in Libya.

Despite this unattractive situation especially in the capital Tripoli investors are likely to look for property for sale in Libya

In terms of areas of Tripoli the best neighborhoods to look for properties for sale are the Ben Ashour, Nofleen and Zawiat Dahmani neighborhoods. Here the prices are higher here and the properties for sale are generally located in a central position, near embassies and foreign residences, but also in hospitals and private clinics, as well as the best schools.

If you are looking for a property for sale more for tourist use, with a garden and more space, then the neighborhoods of Serraj and Janzour are the best. Among the properties for sale you can find spacious villas with gardens, lawns and even swimming pools.