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, reached 15,726 transactions by April 2019, down from 17,651 by April 2018. In its turn, the value of total RE transactions stood at $2B, also contracting by 16.20% year-on-year (y-o-y). Moreover, the average value per transaction declined from $139,375 by April 2018 to $131,094 in the same period this year.
In addition, foreigners executed 323 transactions of the total by April 2019 compared to 367 by April 2018. Meanwhile, the foreigners’ share in the first 4 months of the year accounted for 2.05% of total real estate transactions, down from 2.08% 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 31.92% (worth $658.12M) by April 2019, followed by Metn and Baabda with shares of 20.53% (worth $423.29) and 16.04% (worth $330.61M), respectively.
In terms of the number of RE transactions executed, Baabda ranked first grasping 2,854 transactions (equivalent to 18.15% of the total) by April 2019. Total North and Zahle followed, with stakes of 16.51% and 12.91% of total transactions, respectively, over the same period.
Total Number of Real Estate Transactions by April
Source: LRC