Real Estate Activity Gains Annual 2.67% by November 2014

Total real estate transactions added an annual 2.67% during the first 11 months of 2014, to reach 63,651 transactions. Similarly, total value of property sales transactions amplified 4.99% year-on-year (y-o-y) to $8.05B by November. Hence, the average value of real estate transaction grew from $123,656 in the first 11 months of 2013, to $126,446 in 2014. The GCC travel bans to Lebanon, which were implemented beginning of 2014, were partly behind the continuous decrease of sales to foreigners, where their share shrank to 1.59% of total real estate transactions by November 2014, compared to a higher share of 1.78% 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.

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