Real Estate Demand 21.07% lower Annually by September 2022

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, went down by a yearly 21.05% to stand at 56,500 transactions by September 2022, compared to 71,580 transactions same period last year. In the same token, the value of total RE transactions stood at $9.17B by September 2022, which is 13.02% lower than $10.54B in the same period last year.

On a monthly basis, the number of RE transactions stood at 7,767 in the month of September 2022, compared to only 8,367 transactions in the previous month of August 2022, and to 13,527 transactions in September 2021.  In details, a substantial 1,697 transactions, or 21.85% of total RE transactions, were concentrated in the region of Baabda alone in the month of September 2022. Meanwhile, Tripoli, Nabatieh, and South, each grasped the respective shares of 16.11%, 12.66%, 12.41% of the total RE activity in September 2022. Surprisingly, no RE transactions was registered in the area of Metn for the month of September 2022.

Moreover, the breakdown of RE activity by value for September 2022 showed that Beirut grasped the lion’s share of the total value of RE transactions, equivalent of 33.88% and worth $520.14M, while Baabda followed, constituting 33.11% of the total and worth $508.35M.

The Real Estate market has been broadly perceived as the safest investment for the Lebanese since the eruption of the economic and financial crisis. The demand for owning a real estate in Lebanon remained high compared to years before the crisis but with a slower pace of expansion compared to last year. This could be attributed to the fact that Real Estate owners are requesting full payments to be in fresh while buyers are cautious towards their investments due to the uncertainty in the coming period.

Number of RE transactions by September:

Real Estate Demand 21.07% lower Annually by September 2022


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