According to the data from the General Directorate of Land Registry and Cadastre (LRC), the number of real estate (RE) transactions which may include one or more realties registered an annual decrease of 17.44% % to reach 60,714 transactions by December 2018.
As such, the total value of the real estate transactions over the period dropped by a yearly 18.04 % to reach $8.13B by December 2018. Therefore, the average value per transaction slightly dropped from $134,950 in 2017 to $133,977 in 2018.
As for the foreigners’ share in the total number of real estate transactions, it slightly rose from 1.85 % by December 2017 to 2% by December 2018. In details, foreigners executed 1,214 transactions of the total by December 2018 compared to 1364 by December 2018.
In regards to the regional breakdown, Beirut grasped the largest share of total real estate transactions’ value, with a stake of 30.03 %( worth $2.44B) by December 2018.
Baabda occupied the 2nd place with 20.17% (worth $1.64B), followed by Metn regions, which grasped shares of 17.34%, equivalent to $1.41B of the total.
However, in terms of number of real estate transactions, the regional breakdown by December 2018 ranked Baabda first grasping 12,130 transactions (equivalent to 19.98% of the total transactions) followed by the North and Zahle with a stake of 15.31%and 12.28% respectively.
Total Number of Real Estate Transactions and growth rate by December
Source: Lebanese Cadastre Registry