Why is Libya rent costly compared to its neighboring country and USA?

I believe it is because of the low number of houses, and housing companies. I think it is the only reason. The greedy landlords are only in the market. And when companies and agencies open in or start their rental business the competition will bring the prices down.

Samakau

That is THE MOST AWESOME LOGICAL ANSWER EVER! Thank you very much for sharing. If your answer is the only one I get, I still will be very pleased! I hope more housing angencies go in there sooner than later.
Thank you again
Amanda

amandaburton1983 wrote:

Samakau

That is THE MOST AWESOME LOGICAL ANSWER EVER! Thank you very much for sharing. If your answer is the only one I get, I still will be very pleased! I hope more housing angencies go in there sooner than later.
Thank you again
Amanda

You are more than welcome, very pleased that u r happy with the answer.

We really need high quality-service housing agencies

The simple demand and supply rule applies here, since the Govt has not attempted to regulate the housing market because it believed that the rise in price is due to speculation and the greedy owners taking advantage of the situation.

It's because Tripoli is the most beautiful city in the Mediterranean :-P.

Amanda, your question is understandable but, unfortunately, there is no real good explanation other than there is a shortage of housing.   Land which used to cost next to nothing just a few years ago to buy is now unaffordable to most.   That, in turn, hinders any new housing development.  Getting good rental agencies won't do much to help the situation in my opinion.   When people, particularly expats, are forced to pay high prices because they don't have any options, this just fuels the cycle for property owners to demand more because the market is on their side.

I can appreciate the reasons for your wanting to move to Libya but it does not always work out that way.  I found that I was much more "spiritual" while in the States because we made an effort to do things as a local community with the kids etc.  After having lived in Dubai for almost 20 years and raising my kids here, I can tell you that other than Friday prayers (of which most women don't attend here or in Libya), what you may think of a more Islamic lifestyle is lost in the everyday living.  I miss our community Eid prayers, picnics, etc.

If you want to discuss this or anything further, please feel free to send me a message.

In 2010 I decided to rent an apartment in Tripoli because I was unhappy with the location of the lodging provided by my company.
I used the normal channels and soon discovered that prices ranged more or less from what you describe, hyper inflated.
I soon discovered that each property had 2 prices, one for local and one for foreigners. Also there where too many people in the loop, the usually called "fixers" (these guys are partly responsible for the inflation).
I did my own research and with the help of local friends, got an 120 m2 apartment in Shara Al Wadi (downtown Tripoli, main street) by 700 LYD.
My advice is try to avoid unnecessary people in the loop and avoid fixers at all cost, these people are leeches. Anyone that speaks basic Arabic can live very well without them.