Value of Real Estate Sales Transactions Hits $5.86B by August 2014

Total real estate transactions inched up by a yearly 1.84% during the first eight months, to reach 45,509 transactions. However taking the months of July and August 2014 alone, the number of transactions dropped by 8.10% compared to July and August 2013, to 11,165. Total value of property sales transactions surged by 10.41% year-on-year (y-o-y) to $5.86B by August. Therefore, the average value of real estate transaction went up from $118,873.36 in the first 8 months of 2013, to $128,871.80 in 2014. Sales to foreigners plunged where their share stood at 1.46% of total real estate transactions by August 2014, compared to a higher share of 1.80% during the same period last year. This implies that Lebanese residents and non-residents are the principal factors behind the improvement in the real estate market.

Leave a Reply

Your email address will not be published. Required fields are marked *