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Syrians Sell Their Property to Ensure Their Livelihood

An economist estimated that the unemployment rate in Syria is 85%, according to al-Araby al-Jadeed.
Syrians Sell Their Property to Ensure Their Livelihood

Many Syrians have decided to sell their property and furniture to spend on the basic needs of their families. 

The average cost of living in Syria increased this month to more than 3 million Syrian pounds for a family of five. The rate of increase compared to March reached more than five percent, according to the Qasioun Center for Studies index in the Syrian capital, Damascus. 

Syrian journalist H.M. reveals that her house in the Qudsaya neighbourhood of Damascus countryside has been offered for sale to pay off her debts due to the cost of living and to educate her “only daughter.” She added that selling the house is the only solution to continue with what she described as “the infidelity in high prices and the absence of mercy”. 

The journalist, who requested that her full name not be used, adds that the dissipation of property “such as jewelry, real estate, and cars” is the general characteristic of Syrians. This results from the “huge difference” between income, which does not exceed 100,000 pounds and the monthly living costs of no less than 3 million pounds for the family. The situation prompted “most Syrians to sell what they can to continue, especially since they have no hope of preserving the property,” as the Syrian journalist put it. 

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Syrian parliamentarian Zuhair Tenawi does not hide the increase in cases of Syrians selling their properties due to “stressful living conditions and rising inflation.” 

Between 30 and 40% of Syrians sell their properties to improve their lives temporarily, he told the al-Baath newspaper. The parliamentarian adds that living conditions are pushing property owners in Damascus to sell these properties and secure alternative housing with lower quality specifications due to continued spending in light of high prices and limited resources. 

According to a study conducted by Qasioun last month, before Eid al-Adha, the average cost of living for a Syrian family of five exceeded the three million Syrian pounds barrier, and the minimum cost was 1,881,000 Syrian pounds. 

“What about those who don’t own real estate, cars, and gold for sale, how do they live?” stated Syrian economist Hussein Jamil. Jamil pointed out that most Syrians do not work, and the unemployment rate is more than 85%. This means that the monthly wage is not only low, but it also is not accessible to all. These poor people who are subjected to all means of starvation “live on aid and remittances of their relatives or generous people.” 

Economists and researchers from Damascus recently proposed changing the lifestyle and activating what they called the domestic economy, as well as good management and the adoption of ethical values during spending. “We have to scrutinize the details of our daily spending and rationally direct the living compass towards reading developments and life differently,” said Economics Professor Muder al-Ahmad.


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.

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