Total real estate transactions did not stray from their upward trend during the first quarter of 2014 to reach 16,069 transactions, achieving a 16.12% upsurge compared to the first quarter of 2013. In details, the total value of property sales transactions was boosted by 35.76% y-o-y from $1.51B in 2013 to $2.05B by March 2014.
Therefore, the average value of a real estate transaction went higher to $127,865 during the first quarter this year compared to $109,371 in the same period of 2013. Sales to foreigners expanded by 7.31% year-on-year, reaching 235 transactions. However, foreigners’ share of total real estate transactions went down from 1.58% by March 2013 to 1.46% this year. This means that Lebanese residents and non-residents are the main buyers, but foreigners seem to have started reinvesting in the country as witnessed by the increase in their transactions number.
The Lebanon Brief
26 May
Value of real estate sales transactions in Lebanon hits $2.05 billion
The Lebanon Brief
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