The economic slowdown continued to be reflected in the performance of the real estate sector.
According to the data from the General Directorate of Land Registry and Cadastre (LRC), the number of RE transactions which may include one or more realties, dropped yearly by 17.71 % to reach 54,687 transactions by November 2018. In its turn, the value of total RE transactions stood at $7.31B, also contracting by 18.60% year-on-year (y-o-y). Moreover, the average value per transaction declined from $135,179 by November 2017 to $133,715 in the same period this year.
In addition, foreigners executed 1,064 transactions of the total by November 2018 compared to 1,226 by November 2017. Meanwhile, the foreigners’ share by November 2018 accounted for 1.95% of total real estate transactions, up from 1.84% in the same period last year.
As for the regional breakdown, Beirut grasped the largest share of the total value of real estate transactions with a share of 26.26% (worth $1.92B) by November 2018, followed by Baabda and Metn with shares of 20.20% (worth $1.48B) and 17.12% (worth $1.25B), respectively. In terms of the number of RE transactions executed, Baabda ranked first grasping 10,836 transactions (equivalent to 19.81% of the total) by November 2018. The North , Zahle and South followed, with stakes of 15.57% , 12.51% and 11.74% in the total number of transactions, respectively, over the same period.
Total Number of Real Estate Transactions by November
Source: LRC