According to the data from the General Directorate of Land Registry and Cadastre (LRC), the number of real estate (R.E) transactions which may include one or more realties, dropped by a yearly 20.08% to stand at 21,957 transactions by June 2019. In its turn, the value of total RE transactions stood at $2.73B, down by an annual 29.60% over the same period. As such, the average value per transaction fell from 140,979 by June 2018 to 124,163 in the same period this year.
In addition, the foreigners’ share of the total number of real estate transactions climbed to 2.11% in H1 2019, up from 2.03% in the same period last year. As such, foreigners executed 559 transactions by June 2018 compared to 464 by June 2019.
In a regional breakdown, the largest number of transactions was executed in Baabda, which grasped a share of 17.56% of the total (the equivalent of 3,855 transactions) worth $446.83M by June 2019. The North and Zahle followed, with stakes of 16.62% and 13.39% of total transactions, worth $186M and $100.64M, respectively. Moreover, the South constituted 12.01% of total real estate transactions worth $215.48M over the same period.
Total Number of Real Estate Transactions by June