Total Value of Land Transactions Dropped by 17.41% Yearly to $2.32B

The number of land transactions (local and foreign transactions) stood at 37,062 in the first 11 months of the year, with a 15.09% yearly decline from 43,646 by last November. Those total transactions were worth $2.32B, dropping by an annual 17.41%, over the same period.

Hence, average value per transaction went down by 2.74% y-o-y from $64,387 by November 2014 to $62,626 by November of this year.

In terms of regions, Beirut, Mount Lebanon and Baabda revealed the most prime real estate. Nevertheless, those regions saw their average value per transaction fall from $2.8M, $161,282 and $159,382 last year to $2.21M, $156,851 and $134,467, respectively, by November 2015.

In addition, figures revealed that foreigners’ share of total land transactions went down annually from 2.63% to 1.44% by November of this year, mainly due to the local political turmoil  and regional unrest throughout the year.

 

Highest Average Value per Land Transaction by November

Total Value of Land Transactions Dropped by 17.41% Yearly to $2.32B

Source Cadastre

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