According to data from the Lebanese Cadastre Registry, real estate (R.E) activity marginally improved by Dec.2016. The number of RE transactions grew by a yearly 1.92% to reach 84,380 transactions. The value of RE transactions also climbed by a yearly 1.42% to stand at $8.53B, when compared to the same period last year. The average value per transaction settled at $101,142. The data also reveals that the foreigners’ share of the total number of real estate transactions dropped from 1.95% by December 2015 to 1.59% by December of this year.
Beirut grasped the largest share of total real estate transactions’ value, with a share of 26.68% by December 2016, tailed by Metn and Baabda with shares of 16.66% and 12.01%, respectively. However, the North of Lebanon ranked first in number of transactions, recording 13,254 transactions (equivalent to 15.71% of the total), followed by Metn (10.85% of the total) and Baabda (8.40% of the total).
The total number of built units’ transactions progressed by 2.23% y-o-y to 42,716 transactions worth $5.92B, while the total number of land transactions increased by 1.6% y-o-y to reach 41,664 at a value of $2.6B. Accordingly, the average land transaction value registered a 0.67% uptick to $62,709 by December 2016, while the average value per built unit transaction dropped by 1.16% to $138,629.
Total Number of Real Estate Transactions & % Change by December
Source: Lebanese Cadastre Registry