Real Estate Sales Transactions Edged up to $8.95B in 2014

The real estate sector improved in 2014, probably due to the low base reached in 2013 when regional and domestic uprisings highly hit the Lebanese property sector. In fact, total real estate transactions increased by a yearly 2.30% to 70,792 transactions in 2014. Similarly, the total value of property sales transactions edged up 2.80% to $8.95B. This caused the average value of real estate transactions to go up from $125,841 in 2013 to $126,448 in 2014. However, due to the repeated warnings, in the beginning of the year, of the GCC countries advising their citizens to avoid Lebanon owing to the political and security risks, sales to foreigners declined to stand at 1.69% of total real estate transactions, compared to a bigger share of 1.85% in 2013.

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