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, rose by a yearly 27.30% to stand at 4,668 transactions in January 2020. In its turn, the value of total RE transactions stood at $756.84M, up by an annual 49.95% over the same period. As such, the average value per transaction increased from 137,642 in January 2019 to 162,134 in the same period this year.
In addition, the foreigners’ share of the total number of real estate transactions stood at 1.54% in January 2019, down from 1.88% in the same period last year. As such, foreigners executed 72 transactions in January 2019 compared to 69 in January 2020.
In a regional breakdown, the largest number of transactions was executed in Baabda, which grasped a share of 18.66% of the total (the equivalent of 871 transactions) worth $41.78M in January 2020. The North and Metn followed, with stakes of 14.82% and 12.96% of total transactions, worth $692M and $605M, respectively. Moreover, the South constituted 12.19% of total real estate transactions worth $150.64M over the same period.
Worth mentioning that during the last 3 months the RE sector has been witnessing a notable dynamic activity. In fact, the increase in demand and prices is mainly due to wealthy investors trying to diversify their assets following the capital control and restrictions set by commercial banks.
Total Number and Value of Real Estate Transactions by January
Source: Cadastre