According to the data published by the Lebanese Cadastre Registry, during the first three quarters of this year, the real estate activity marginally improved. The total number of real estate transactions increased by 0.59% from last year’s level to reach 59,654 transactions. Moreover, the total value of these transactions rose by a yearly 0.57% to $6.16B by September this year; however, the average value per transaction steadied at $103,272 over the same period. Also, the data depicted that foreigners’ share of the total number of real estate transactions went down from 1.98% by September 2015 to 1.57% by September 2016.
In details, Beirut grasped the largest share of total real estate transactions’ value, with a share of 30.16% by September 2016, followed by Metn and Baabda with respective shares of 18.08% and 13.48%. In terms of number of transactions, North of Lebanon ranked first with 9,648 transactions (or 16.17% of the total) and was tracked by Metn (12.23% of the total) and Baabda (9.19% of the total).
Total number of land transactions fell 0.66% y-o-y to reach 29,812 at a value of $1.96B, while total number of built units’ transactions increased 1.87% y-o-y to 29,842 worth $4.20B. Accordingly, the average land transaction value registered a 3.49% uprise to $65,815 by September 2016, and the average value per built unit transaction fell 2.26% to $140,692.
Total Number of Real Estate Transactions by September
Source: Lebanese Cadastre Registry