Figures released by the Ministry of Finance indicate that the total number of real estate transactions reached 39.020 in the first seven months of 2014, constituting an increase of 2.3% from 38.127 deals in the same period of last year. In comparison, the number of real estate transactions dropped by 5.2% in the first seven months of 2013 and declined by 8.8% in the same period of 2012. Also, the aggregate value of real estate transactions totaled $5.1bn in the first seven months of 2014, constituting a rise of 9.7% from $4.7bn in the same period last year. The value of real estate deals was $4.8bn in the first seven months of 2012 and $4.5bn in the same period of 2011. In parallel, the average value per real estate transaction increased by 7.2% year-on-year to 8130,778 in the first seven months of 2014 relative to average values of $122,022 in the same period of 2013 and $119,082 in the first seven months of 2012.
There were 572 real estate transactions executed by foreigners in the first seven months of 2014, down 20.3% from 718 deals in the same period last year, and compared to an annual decrease of 6.3% in the first seven months of 2013 and an increase of 5.2% 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 seven months of 2014 relative to 1.9% in each of the first seven months of 2013 and 2012.
Lebanon This Week – Byblos Bank
24 September
Number of real estate transactions in Lebanon up 2% in first seven months of 2014
Lebanon This Week – Byblos Bank
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