Many observers describe the current situation in the real estate market of Damascus and its countryside over the past two weeks as unusual. Demand for rental properties has surged, while purchases have declined, leading to a significant increase in rental prices—reportedly by around 60 percent. This information comes from Fadi Erksoussi, a real estate office owner, in a statement to the pro-regime radio station Sham FM.
Erksoussi noted that the Mezzeh and Kafarsouseh areas are the most sought-after in Damascus. In Kafarsousa, renting a “Super Deluxe” house costs between 170-180 million SYP annually, with larger properties reaching up to 200 million SYP per year—equating to approximately 16 million SYP per month.
Mezzeh Neighborhood in Damascus: In the Crosshairs of Israeli Strikes
In the popular areas of Mezzeh, annual rental costs can reach 50 million SYP, while properties along the highway range from 120 to 125 million SYP per year. Some houses in this area are even listed at 300 million SYP annually. In rural Damascus, particularly in Jaramana, rental prices have hit 15 million SYP per month, totaling about 70 million SYP annually.
Erksoussi emphasized that there has been no significant influx of renters from Lebanon driving this demand. However, observers have noted that Mezzeh has become a preferred location for many members of Hezbollah and the Iranian Revolutionary Guards, especially in light of recent events in Lebanon.
This article was translated and edited by The Syrian Observer. The Syrian Observer has not verified the content of this story. Responsibility for the information and views set out in this article lies entirely with the author.
