Tuesday, 30 September 2014

Real estate transactions in Lebanon up!


Number of real estate transactions in Lebanon up 3,3% in first eight months of 2014




Figures released by the Ministry of Finance indicate that the total number of real estate transactions reached 45,348 in the first eight months of 2014, Byblos Bank ‘Lebanon
This Week’ reported.

This constitutes an increase of 3.3% from 43,883 deals in the same period of last year.

In comparison, the number of real estate transactions dropped by 4.6% in the first eight months
of 2013 and declined by 9.5% in the same period of 2012.

Also, the aggregate value of real estate transactions totaled $5.9bn in the first eight months
of 2014, constituting a rise of 10.5% from $5.3bn in the same period last year.

The value of real estate deals was $5.5bn in the first eight months of 2012 and $5.2bn in the
same period of 2011. In parallel, the average value per real estate transaction increased by
6.9% year-on-year to $129,440 in the first eight months of 2014 relative to average values of $121,049 in the same period of 2013 and $119,299 in the first eight months of 2012.

There were 670 real estate transactions executed by foreigners in the first eight months of 2014, down 16.6% from 803 deals in the same period last year, and compared to an annual decrease of 8.1% in the first eight months of 2013 and an increase of 1.2% in the same period
of 2012.

In parallel, the number of real estate transactions by foreigners accounted for 1.5% of total real estate deals in the first eight months of 2014 relative to 1.8% in the same period of 2013 and
1.9% in the first eight months of 2012.

BEIRUT | iloubnan.info - September 28, 2014

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