According to the General Directorate of Land Registry and Cadastre (LRC), the cumulative number of real estate (RE) transactions reached 29,556, valued at $2.99B by October 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 29.1% YOY from 4,409 transactions in October 2023 to 3,126 in October 2024, and compared to 2,447 transactions in September 2024.
The value of real estate transactions in October 2024 reached $337.79M. Metn held the largest share of the total value at 40.68%, amounting to $137.41M. Keserwan followed with 23.28% of the total value, equivalent to $78.63M.
In details, here is the regional breakdown in October 2024. Note based on the discrepancy between share and value that Beirut is the most expensive and North 1 and North 2 is the cheapest.
It is to be noted that no real estate transactions were made in Nabatieh and South governorates due to the escalation of the war with Israel.
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.