According to the data from the General Directorate of Land Registry and Cadastre (LRC), the number of real estate (R.E) transactions which may include one or more realties, dropped by a yearly 16.22% to stand at 19,024 transactions by May 2019. In its turn, the value of total RE transactions stood at $2.44B, down by an annual 24.41% over the same period. As such, the average value per transaction fell from 142,039 by May 2018 to 128,145 in the same period this year.
In addition, the foreigners’ share of the total number of real estate transactions climbed to 2.12% by May 2019, up from 2.10% in the same period last year. As such, foreigners executed 477 transactions by May 2018 compared to 403 by May 2019.
In a regional breakdown, the largest number of transactions was executed in Baabda, which grasped a share of 17.88% of the total (the equivalent of 3,401 transactions) worth $390.03M by May 2019. The North and Zahle followed, with stakes of 16.49% and 13.27% of total transactions, worth $163.9M and $86.9M, respectively. Moreover, the South constituted 11.81% of total real estate transactions worth $188.61M over the same period.
Total Number of Real Estate Transactions by May
Source: LRC