Number of Real Estate Transactions Down by 16.79% y-o-y by September 2018

According to the General Directorate of Land Registry and Cadastre (LRC), the number of RE transactions which may include one or more realties, dropped yearly by 16.79 % to reach 43,263 transactions by September 2018 . In its turn, the value of total RE transactions stood at $5.84B, also contracting by 16.80% year-on-year (y-o-y). Moreover, the average value per transaction recorded a marginal fall from $135,038 by September 2017 to $135,021 in the same period this year.

In addition, foreigners executed 845 transactions of the total by September 2018 compared to 923 by September 2017. Meanwhile, the foreigners’ share by September 2018 accounted for 1.95% of total real estate transactions, up from 1.78% in the same period last year.

As for the regional breakdown, Beirut grasped the largest share of the total value of real estate transactions with a share of 29.04% (worth $1.70B) by September 2018, followed by Baabda and Metn with shares of 19.78% (worth $1.16B) and 17.01% (worth $993.8M), respectively. In terms of the number of RE transactions executed, Baabda ranked first grasping 8,500 transactions (equivalent to 19.65% of the total) by September 2018. The North , Zahle and the South followed, with stakes of 15.79% , 12.63% and 11.61% of total number  transactions, respectively, over the same period.

Total Number of Real Estate Transactions by September

ra

 

Source: LRC

 

Leave a Reply

Your email address will not be published. Required fields are marked *