According to the data from the General Directorate of Land Registry and Cadastre (LRC), the number of real estate (R.E) transactions which may include one or more realties, dropped by a yearly 23.54% to stand at 25,384 transactions by July 2019. In its turn, the value of total RE transactions stood at $3.02B, down by an annual 33.63% over the same period. As such, the average value per transaction fell from 137,267 by July 2018 to 119,147 in the same period this year.
In addition, the foreigners’ share of the total number of real estate transactions climbed to 2.18% by July 2019, up from 2.02% in the same period last year. As such, foreigners executed 669 transactions by July 2018 compared to 553 by July 2019.
In a regional breakdown, the largest number of transactions was executed in Baabda, which grasped a share of 17.35% of the total (the equivalent of 4,405 transactions) worth $497.82M by July 2019. The North and Zahle followed, with stakes of 16.72% and 13.87% of total transactions, worth $216.32M and $124.25M, respectively. Moreover, the South constituted 12.31% of total real estate transactions worth $243.23M over the same period.
Total Number of Real Estate Transactions by July
Source: LRC