Lackluster Performance of the Real Estate Market in 2015

The real estate market continued its downtrend in 2015 as evidenced by the decline in total transactions. Total real estate transactions stood at 82,790 by the end of 2015, recording a 5.4% yearly decline, with 16.29% of them representing foreign demand. Those transactions were worth $8.41B in 2015, dropping by an annual 13.41% from the previous year. Hence, the average value of real estate transactions went down by 9.01% y-o-y from $111,062 in 2014 to $101,061 in 2015. The North, Metn and Baabda regions grasped the highest number of transactions in 2015 with respective shares of 16.33%, 11.48% and 8.33%.

In details, 41,006 land transactions worth $2.55B were executed in 2015 compared with 48,115 deals worth $3.08B in 2014. Thus, the average land transaction in 2015 stood at $62,293, down by 2.8% from the average value recorded in 2014. The North region recorded 6,794 transactions followed by 5,137 deals for Baalbeck.

On the other hand, 35,410 transactions on built units were registered by the end of 2015, down from the 39,117 transactions carried out in 2014. Their total value was $5.01B in 2015, down from $5.53B recorded in 2014. As a result, the average value per transaction on built units in 2015 remained approximately the same, steadying at $141,376. Metn, Baabda and the North regions registered the highest number of these transactions with respective shares of 17.85%, 13.68% and 13.63%.

Total Number of Yearly Real Estate Transactions

Lackluster Performance of the Real Estate Market in 2015

Source: Lebanese Cadastre Registry


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