Property prices soar in Libya's capital as displaced seek housing - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.

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Property prices soar in Libya's capital as displaced seek housing via SABCNewsOnline

With rents in the centre of Libya’s capital soaring as those displaced by fighting on its edge seek housing, 35-year-old IT engineer Moataz Saleh al-Fagih says he has been unable to find anything he can afford.

A wide buffer zone was created behind the front lines, from which most residents were evacuated. Many flooded into the centre of the city of three million and have remained there as the offensive stalled. Outside his office in the downtown Zawiyat al-Dahmani neighbourhood, dozens queuing to find a cheap apartment to rent were being turned away disappointed.

The purchase price for a two-bedroom apartment has more than tripled since 2014, Ben Mansour said, with some of the rise also down to Libyans based abroad taking advantage of cheap black market to invest.

 

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