Enab Baladi – Lubaba al-Tawil

Syria’s real estate market is witnessing complex conditions, influenced by a mix of economic, political, and social factors, alongside regional and international pressures.

In February 2022, the former Syrian government issued a decision barring authorized entities from registering property sales contracts or irrevocable powers of attorney without proof that at least 15% of the property’s market value was deposited through bank accounts, in line with Law No. 15 of 2021.

With this requirement now scrapped, and the land registry reopened, attention is turning to whether these changes will succeed in facilitating market activity and boosting confidence in property transactions.

Changes and required procedures

The most significant amendment compared to previous regulations is the removal of mandatory bank deposits as a precondition for completing transactions, making them optional. According to Taher Shahada, Director of Legislation and Registration at the General Directorate of Property Transfer, the owner may now withdraw the full amount “however and whenever they wish, without restriction.”

Shahada told Enab Baladi that further changes include a 30% reduction in the assessed market value of residential properties, the removal of security clearance requirements for both seller and buyer, and the adoption of a “no objection to completing the sale” certificate, issued immediately upon obtaining a financial clearance.

He added that property transfer procedures will return to the previous system, except for the suspended amendments, making transactions “simpler, cheaper, and faster.”

The process of transferring ownership still requires the “no objection to sale” certificate, granted upon issuing financial clearance. Additional checks are made against the list of persons banned from disposition and the system of asset seizures, ensuring the seller is not wanted by the courts or barred from managing their property.

“Greater confidence in the registry”

Reopening the land registry and enabling direct transactions will have a “significant” impact on property sales and purchases, according to real estate expert Ammar Youssef.

He explained that during the closure, buyers and sellers resorted to the courts to prove ownership through judicial rulings. However, “the primary standard,” he noted, remains property registration with the official land registry.

Youssef pointed out that the new “no objection to sale” certificate serves the same function as the previously required security clearance, offering additional guarantees to the buyer.

“The reopening of the registry means citizens, especially buyers, can be completely confident that the sale is valid and can be formally registered, unlike relying solely on court rulings,” Youssef said.

Market impact

According to Youssef, the step gives buyers “a stronger sense of security” and safeguards their rights against sellers, thereby stimulating real estate transactions.

He added that the Syrian economy currently relies heavily on the real estate sector, given the absence of other active investments or alternative industries. Property transactions, alongside vehicle sales, were once a key driver of the economy, but the auto market has shrunk following the resumption of imports and falling car prices, leaving real estate as the primary pillar.

He described the government’s move as “a step in the right direction,” but noted that the delay caused seven straight months of stagnant market activity. The resumption of land registry operations, he said, is expected to revive the market.

Resuming registration

Syria’s Ministry of Local Administration and Environment has reinstated property ownership transfers in land registry directorates after a months-long suspension, announcing new procedures aimed at simplifying transactions and overcoming past hurdles.

According to Minister Mohammed Anjarani, the decision will “revitalize the market and the economy,” while strengthening confidence in the land registry and preparing an investment-friendly environment.

On August 9, the minister explained that the government had abolished the rule requiring sellers to deposit 50% of the property’s value in banks, as well as all fees or commissions tied to deposit and withdrawal transactions. He also stressed that amounts deposited in connection with property sales may now be withdrawn in cash at any time, free of procedural or time restrictions.

Anjarani emphasized the importance of buyers verifying the legal status of sellers before completing any deal, ensuring that the property is not registered under the names of individuals “wanted by the courts” who may attempt to liquidate their assets through sales.