According to the data from the General Directorate of Land Registry and Cadastre (LRC), the number of RE transactions which may include one or more realties, reached 12,067 transactions by March 2019, down from 14,181 in Q1 of 2018. In its turn, the value of total RE transactions stood at $1.62B, also contracting by 19.21% year-on-year (y-o-y). Moreover, the average value per transaction declined from $141,845 in Q1 2018 to $134,676 in the same period this year.
In addition, foreigners executed 234 transactions of the total in Q1 2019 compared to 273 in Q1 2018. Meanwhile, the foreigners’ share in Q1 2019 accounted for 1.94% of total real estate transactions, up from 1.93% in Q1 last year.
As for the regional breakdown, Beirut grasped the largest share of the total value of real estate transactions with a share of 32.78% (worth $532.68M) in Q1 2019, followed by Metn and Baabda with shares of 20.26% (worth $329.31) and 16.35% (worth $265.65M), respectively.
In terms of the number of RE transactions executed, Baabda ranked first grasping 2,235 transactions (equivalent to 18.52% of the total) in Q1 2018. Total North and Zahle followed, with stakes of 16.52% and 12.46% of total transactions, respectively, over the same period.
Total Number of Real Estate Transactions in Q1