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Here are the 10 most expensive streets of Ashrafieh

BEIRUT | RAMCO - January 25, 2016, 15h10
Sodeco square, in Ashrafieh.

Our top listing of the most expensive streets in Ashrafieh confirms Georges Haimari Street in first position. On average, the price per square meter on this artery starts at USD 5,750 per SQM. In second and third place come two streets in the area of Sursock: Sursock and Najib Trad streets.

This classification reveals that the highest prices are concentrated around the northern and western parts of Ashrafieh, within a small perimeter that engulfs the neighborhoods of Saifi, Sursock, and Fun el Hayek.

Located on one of the culminating points of Ashrafieh, a few meters from Sassine Square and ABC Ashrafieh, Georges Haimari Street is an ideal address that offers a succession of high-rise buildings that overlook part of Beirut. The two highest towers are Skygate with 42 floors, and The Edge Project, which stands 52 floors high. These towers are built on large plots of land that leave space for spacious gardens. It is the address of the moneyed local elite in search of large residences. Skygate, for instance, currently has a 788-SQM apartment on the 37th floor affered at USD 8.5 million – which works out to a unit price of USD 11,000 per SQM.

Sursock has established a solid reputation. With a unit price that varies between USD 4,500 and USD 5,500 per SQM on the first floor, Sursock remains one of the most posh addresses in Beirut. This is justified by a pleasant urban setting and the presence of a few palaces. Sursock is a neighborhood that stands apart in Ashrafieh, where living comes at a high price tag. Prices, however, have been relatively stable since 2012.

The famous “Golden Square” of Furn el Hayek does not sit on the first three rungs but rather comes in fourth position of the most expensive streets of Ashrafieh. A dozen projects are currently under construction there. Standard projects exist alongside high-end projects undertaken by some of the largest developers in town, such as 20|30, Abdel Wahab 618, FAL Towers, and Ashrafieh Heights. The four most expensive streets post average sales prices between USD 4,375 and USD 4,750 per SQM on the first floor. These prices are 15% higher than 2009!

Two of the most expensive ten streets are located in Saifi. The neighborhood fully benefits from its geographical proximity to Solidere and to Saifi Village. With prices on the first floor that vary between USD 4,400 and USD 6,500 per SQM, depending on the standing of the building, Saifi remains an attractive address: It enjoys easy access, a pleasant urban setting with some old buildings, and the possibility to enjoy open views towards BCD and Port of Beirut.

Here are the "Top Ten Most Expensive Streets in Ashrafieh in 2016" (average sales price – before negotiation – of a new apartment on the first floor)

1- Georges Haimari – Sassine – USD 5,750 per SQM

2- Sursock – Sursock – USD 5,250 per SQM

3- Najib Trad – Sursock – USD 4,900 per SQM

4- Ghandour Saad – Furn el Hayek – USD 4,750 per SQM

5- Georges Haddad – Saifi – USD 4,700 per SQM

6- Wadih Naim – Furn el Hayek – USD 4,625 per SQM

7- Abdel Wahab Inglizi – Furn el Hayek – USD 4,375 per SQM

8- Achrafieh – Furn el Hayek – USD 4,375 per SQM

9- Lebanon Street – Saifi – USD 4,375 per SQM

10- Elias Sarkis – Sodeco– USD 4,350 per SQM

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RAMCO
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