Total real estate transactions inched up by a yearly 4.06% during the first three quarters of 2014, to reach 51,901 transactions. Total value of property sales transactions surged by 10.49% year-on-year (y-o-y) to $6.67B by September. Therefore, the average value of real estate transaction went up from $120,990.10 in the first 9 months of 2013, to $128,467.91 in 2014. Sales to foreigners plunged where their share stood at 1.52% of total real estate transactions by September 2014, compared to a higher share of 1.81% during the same period last year. This implies that Lebanese residents and non-residents are the principal factors behind the improvement in the real estate market.
Average Value of Property Sales Transactions by September