The Syrian Statistics Bureau Chief in Damascus, revealed that the local prices of the residential apartments and real estate properties declined by 30-50 percent over the past five years. However, this price reduction, reported by Al-Watan newspaper, did not resolve the housing crisis in Damascus in particular or in Syria in general.
Furthermore, the Bureau Chief added that the total number of apartments available in Syria totaled 2,457,091 units in 1994, of which 84 percent were occupied, while the rest were vacant. This implies that there were 401,073 vacant apartments in the country at that time. — (Albawaba-MEBG)