Figures released by the Ministry of Finance indicate that the total number of real estate transactions reached 51.975 in the first nine months of 2014, constituting an increase of 4.2% from 49.876 deals in the same period of last year. hi comparison, the number of real estate transactions dropped by 5.2% in the first nine months of 2013 and declined by 9.2% in the same period of 2012.
Also, the aggregate value of real estate transactions totaled $6.7bn in the first nine months of 2014, constituting a rise of 10.6% from $6bn in the same period last year. The value of real estate deals was $6.2bn in the first nine months of 2012 and $6bn in the same period of 2011. In parallel, the average value per real estate transaction increased by 6.1% year-on-year to $128.382 in the first nine months of 2014 relative to average values of $120,990 in the same period of 2013 and $118,044 in the first nine months of 2012.
There were 795 real estate transactions executed by foreigners in the first nine months of 2014, down 12% from 903 deals in the same period last year, and com-pared to an annual decrease of 8% in the first nine months of 2013 and an increase of 1.3% in the same period of 2012. In parallel, the number of real estate transactions by foreigners accounted for 1.5% of total real estate deals in the first nine months of 2014 relative to 1.8% in the same period of 2013 and 1.9% in the first nine months of 2012.
Lebanon This Week – Byblos Bank
21 October
