According to the General Directorate of Land Registry and Cadastre (LRC), the cumulative number of real estate (RE) transactions reached 32,056, valued at $3.3B by November 2024. This valuation is calculated at the new official rate of USD/LBP 89,500, effective from February 1st, 2024.
On a monthly basis, the number of RE transactions decreased by 34.3% YOY from 3,805 transactions in November 2023 to 2,500 in November 2024, and compared to 3,126 transactions in October 2024.
The value of real estate transactions in November 2024 reached $303.54M. Beirut held the largest share of the total value at 41%, amounting to $124.5M. Baabda followed with 24.76% of the total value, equivalent to $75.16M.
In details, here is the regional breakdown in November 2024. Note based on the discrepancy between share and value that Beirut is the most expensive and North is the cheapest.
| Region | Share in Number of Total Transactions | Share in Value of Total Transactions |
| North | 27.64% | 9.36% |
| Keserwan | 25.72% | 22.29% |
| Baabda | 25.68% | 24.76% |
| Zahle | 9.72% | 1.85% |
| Beirut | 8.72% | 41.01% |
| Real Estate Courts | 2.32% | 0.65% |
| Metn | 0.20% | 0.09% |
| South | 0.00% | 0.00% |
| Nabatieh | 0.00% | 0.00% |
Due to the war with Israel, no real estate transactions occurred in Nabatieh and South governorates. However, with the ceasefire starting November 27, a rise in transactions is expected in the coming months.
Disclaimer:
This article is a research document that is owned and published by BLOMINVEST BANK SAL.
No material from this publication may be modified, copied, reproduced, repackaged, republished, circulated, transmitted or redistributed directly or indirectly, in whole or in any part, without the prior written authorization of BLOMINVEST BANK SAL.
The information and opinions contained in this document have been compiled from or arrived at in good faith from sources deemed reliable. Neither BLOMINVEST BANK SAL, nor any of its subsidiaries or affiliates or parent company will make any representation or warranty to the accuracy or completeness of the information contained herein.
Neither the information nor any opinion expressed in this research article constitutes an offer or a recommendation to buy or sell any assets or securities, or to provide investment advice.
This research article is prepared for general circulation and is circulated for general information only.