Figures released by the General Directorate of Land Registry and Cadastre (LRC) show that the number of real estate (RE) transactions, which may include one or more realties, registered an annual decrease of 19.96% to reach 7,859 transactions by February 2019, down from 9,819 transactions during the same period last year. As such, the value of total RE transactions also declined by an annual 19.72% to stand at $1.06B. Accordingly, the average value per transaction rose from $133,979 in February 2018 to $134,375 by February 2019.
In addition, foreigners executed 149 transactions by February 2019 compared to 167 in the same period of 2018. As for the foreigners’ share in the total number of real estate transactions, it slightly rose from 1.70% by February 2018 to 1.90% of total real estate transactions by February 2019.
As for the regional breakdown, Beirut grasped the largest share of the total value of real estate transactions, with a share of 35.2% (worth $371.86M) by February 2019, followed by Metn and Baabda with shares of 17.31% (worth $182.83M) and 16.77% (worth $177.13M), respectively.
In terms of the number of RE transactions executed, Baabda ranked first grasping 1,469 transactions (equivalent to 18.69% of the total). Total North and South followed, with 1,302 transactions (16.57% of total transactions) and 966 transactions (or 12.29% of total), respectively.
Total Number of Real Estate Transactions by February