The area of Badaro offers some of the best value for money apartments in Beirut. It is thus one of the most attractive alternatives to the expensive neighborhoods of Ashrafieh and other central areas of Beirut City where it is still possible to buy a new apartment at less than USD 3,000 per SQM in a pleasant environment. Badaro flaunts many advantages: It is centrally located with very easy access to the major business and entertainment centers of Beirut. It is also a sparsely populated area that enjoys calm, green spaces. The areas of Medawar and Horsh Kfoury are especially pleasant, with pine trees, and charming buildings dating back to the 1950’s and 1970’s.
Seven projects are currently being built in Badaro, totaling almost 32,000 SQM of residential space and more than 120 apartments. The vast majority of projects offer apartments around 250 SQM with three bedrooms. Over the past several months, however, and following in the general trend of the residential market, developers have started offering smaller units. Several projects currently offer apartments varying between 160 and 200 SQM. One brand new project that is still in the pipeline (it has not yet broken ground, but has started the marketing process) has successfully sold one- and two-bedroom apartments.
Badaro caters predominately to families. Its proximity to Ashrafieh and BCD as well as its pleasant setting make Badaro a highly desirable destination for people looking for more affordable alternatives on the outskirts of town. Small units also have a ready client niche, as they answer the needs of investors looking for income-generating placements on the rental market. This is an interesting market niche thanks to Badaro’s proximity to the French Embassy, USJ, the Grand Lycée Franco-Libanais, and Hotel Dieu Hospital, all of which could generate rental demand.
The area, located at the crossroad of several neighborhoods of Beirut, is characterized by the multi-confessional profile of its clientele. This plays both in favor and against Badaro. Despite its numerous advantages and its charm, the neighborhood is still shunned by some buyers. Having been a buffer zone between east and west Beirut during the 15 years of the Civil War, Badaro is still trying to shed this status and impose itself as a new middle market residential area. Badaro thus has tremendous future potential and is still undervalued. Such a pleasant neighborhood with so many advantages is bound to pick up at a faster pace over the next few years.
Prices have increased by close to 60% during the past four years. New apartments could be purchased at between USD 1,900 and USD 2,000 per SQM in 2008. Today, prices start at around USD 3,000 per SQM on the first floor. Despite that increase, however, Badaro remains one of the most affordable residential neighborhoods on the eastern side of Beirut. It is still cheaper than even the second tier neighborhoods of Ashrafieh, such as Nazareth, Sodeco, Charles Malek, and some areas of Sioufi.
Projects under Construction in Badaro
- Total number of projects 7
- Total area (SQM) 31,747
- Total number of units 121
- Average unit size (SQM) 262
- Starting asking sales price (USD/SQM) 3,000 – 3,500