War Zone: Buying A Home In Libya

With all the news about the Libyan civil war and our apparent choosing of sides in that conflict, I thought it might be time to take a look at what home prices are doing in that Mediterranean country.  As it turns out, there is an MLS of sorts for Libya called Al-Daleal.  But, you have to know your metric system to know what you are buying.

I took a shining to this home:

This is a 3 bed 3 bath home in Tripoli.  It is 260 square meters (2300 SQFT to us Americans) and sits on a lot that is about 490 square meters (or .09 acres in our reckoning).  You can purchase this sanctuary from the worries of the world for 325,000 Libyan dinar or $260,000 American.  Of course, right now you not only get the best of living in the Capitol of Libya but you are also treated now to a daily fireworks show courtesy of the United State Air Force.

If the war becomes too bloody, then house prices will likely go down, but, if a large number of homes are destroyed, then house prices (of those still standing) will likely go up. In the off chance that you need some guidance, my professional advise is to wait before speculating in the Libyan real estate market.