Real Estate Transactions Reach a 6 Year Low in January

Total real estate transactions in January 2015 settled at a 6 year low nearly half of those recorded in January 2010 and 2011 ahead of the rise of regional turbulence. In details, a 28.39% yearly decrease was recorded with total transactions reaching 3,551 worth $524.83M compared to 4,911 total transactions valued at $618.72M in January 2014. This might have been due to investors’ reservations amidst inter-political dialogues within the month. Correspondingly, the average value of real estate transactions, in the same period, went down by 4.42% from $154,636 to $147,796 per transaction in January 2015. However, figures, released by Cadastre in the Registrar of Deeds, reveal that the foreigners’ share of total real estate transactions went up from 1.34% to 2.51% in January 2015 (y-o-y). This upturn in foreigners’ enticement could be benefitting from undervalued estates.

Total Real Estate Transaction in January

Real Estate Transactions Reach a 6 Year Low in January

Source: Cadastre

 

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