Buying property in Libya

Hello there,
These days in Libya everything is possible BUT no guarantees will be granted! No rules. So, you might end up losing your money and the property you bought. I suggest to wait for sometime until things get stable.

No a foreigner can't buy property in Libya. I know foreigners who have been here all their lives and still have no right to buy property under their name although they can buy under Libyans name but on paper that still will not be yours in any way.

Thank you all for your inputs

Regards
Armand

The law as it stands, obviously this will all change once the New Government is in place:

Property ownership is a public interest. But according to Qadhafi's Green Book (Manifesto), private ownership is recognized as long as it is non-exploitative. In May 1978, a law was passed granting each citizen the right to own one house. More than that, property ownership is prohibited.

Libya was normalizing relations with the West and wass opening the country to large-scale foreign projects, but so far not to small-scale buyers. In August 2006, Libya issued Decree 21, establishing a new state-owned real estate company to partner foreign and private firms to invest in the real estate sector.

Foreigners can now buy real property in the country, though it is not clear if land is included. Foreigners have been slow to take advantage of the changes because the laws are still unclear.

The Maltese can buy property in Libya.

yes lots of libyans own properties in malta....but i dont think foreigner are allowed to own in libya

Wrong again "LibyaEnergyAnalyst". Please only post useful facts, not just what you think.

Maltese nationals are permitted to purchase real estate in Libya, I know a couple that have. There has been a  reciprocal agreement in place between Libya and Malta for a long time.

It is referred to this this article from 2008.
http://executive-magazine.com/getarticl … icle=10654

Ya flasher. I don't think a non-Libyan is allowed to own property in Libya. There used to be a time long ago when foreigners were allowed to own property. Perhaps those Maltese you know are Libyans?

Besides, good luck taking your case to court over there should a Libyan chose to claim your property as their own.

it is better to wait till things settle down