According to the data published by the Lebanese Cadastre Registry, during the first seven months of 2016, the real estate activity kept on recovering from last year’s levels, where the total number of real estate transactions rose by 2.62% y-o-y to reach 45,589. Also, the total value of these transactions increased by a yearly 0.10% to $4.67B by July this year. However, the average value per transaction dropped 2.46% to $102,459 by July 2016. Accordingly, figures revealed that foreigners’ share of the total number of real estate transactions went down from 1.99% by July 2015 to 1.51% by July 2016.
Regionally, Beirut grasped 26.53% of total real estate transactions’ value by July 2016, followed by Metn and Baabda with respective shares of 14.95% and 10.45%. In terms of volume, North of Lebanon ranked first with 7,569 transactions (or 16.60% of the total) and was tracked by Metn (11.19% of the total) and Baabda (8.25% of the total).
The total number of real estate transactions was equally divided between land transactions and built units. Total number of land transactions rose 2.15% to reach 22,283 at a value of $1.47B, while total number of built units increased 3.09% to 22,766 worth $3.2B. Accordingly, the average land transaction value registered a 1.87% downtick to $64,424 by July 2016, compared to $65,654 by July 2015. Similarly, average value per built unit fell 2.97% from $144,895 to $140,591.
Total Number of Real Estate Transactions by July
Source: Lebanese Cadastre Registry