Total real estate transactions (local and foreign transactions) hit a 6 year low by February 2015, declining 26.73% year-on-year (y-o-y) to list 7,531 total transactions worth $1.00B. Following a partial recovery of real estate transactions by February 2014, near the levels of 2011 and 2012’s, overall activity witnessed in the first two months of 2015 y-o-y slowed down mainly due to the recurring security concerns in the region.
However, figures revealed that foreigners’ share of total real estate transactions went up from 1.46% to 2.42% by February 2015 y-o-y. This could be consistent with the improvement of tourism activity over the mentioned period, and the optimistic prospects following the positive talks on the Lebanese scene.
On another note, average value of real estate transactions went down by 1.08% from $134,661 to $133,202 in the same period last year. Not surprisingly, the decrease in local demand, illustrated by the decline in real-estate transactions, and the instability of oil prices could have impacted the average value per transaction.
Total Real Estate Transactions by February
