As Lebanon’s economic crisis persists, the Housing Bank continues its efforts to support the nation’s youth by offering affordable loans for home purchases and renovations, with amounts currently capped at $50,000, alongside additional financing options for solar energy. However, these loans have proven insufficient given the inflated prices of properties in the Lebanese real estate market, leaving many young people struggling to secure the homes they desire.

In response, the Housing Bank is exploring a significant increase in the loan cap, with discussions underway to raise the limit to $100,000. Antoine Habib, director of the Housing Bank, confirmed that negotiations are ongoing to introduce facilitated loans with subsidized interest rates over a 20-year period. While the matter is not yet finalized, Habib shared that the bank is actively pursuing this change.

“During our recent visit to Qatar, we discussed raising the loan amount from $50,000 to $100,000,” he told Nidaa Al Watan newspaper. 

The bank’s proposed loans would target those with a monthly income ranging from $1,000 to $1,500 for low-income earners, while middle-income applicants would need to earn between $1,500 and $2,000. These loans would either be used to purchase a home of less than 150 square meters or to build a home on land owned by the borrower. Final decisions are expected in the coming weeks, with further clarity anticipated after Ramadan.

In addition to supporting first-time homebuyers, the Housing Bank is also offering loans for rebuilding and repairing buildings damaged during the recent conflict between Hezbollah and Israel. These loans, ranging from $10,000 to $50,000, will come with a two-year grace period, allowing affected individuals to stabilize their finances before starting repayment. The loan term would span 15 years.

Habib noted that the number of loan applications has risen significantly, especially since the election of President Joseph Aoun, signaling renewed hope for Lebanon’s economic recovery.