Why housing cooperatives
Building at cost price with many fiscal exemptions reduces the price by 50 %. The benefits of creating a strong housing cooperative sector are as follows:
- Expatriates would have more stimuli to come back and settle in Lebanon
- All workers and labor will be Lebanese which will boost employment and revenue creation for poor families
- People with limited income (1000$ to 2000$) could afford buying an apartment using this scheme
- People with higher income (2000$ to 4500$) would save up to 100 000 $ over 30 years which will be spent on other sectors such as clothing, education, health, entertainment….. and this will boost the economy
- The construction materials suppliers will benefit too since that will create more business for them.
- Reduction in delinquency and family troubles
- Decentralization of housing (since at some villages and peripheral regions the cost will be ridiculously low that people will prefer to settle there).