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, reached 3,667 transactions in January 2019, down from 5,346 in January 2018.
As such, the total value of total RE transactions fell by a yearly 26.25% to stand at $504.73M compared to the same period last year. Accordingly, the average value per transaction rose from $128,018 in January 2018 to $137,642 in January 2019.
In addition, foreigners executed 69 transactions of the total in the first month of 2019, down from 91 executed in the same period last year. However, the foreigners’ share in the total number of real estate transactions rose from 1.70% of total real estate transactions in January 2018, to 1.88% by January 2019.
As for the regional breakdown, Beirut grasped the largest share of total real estate transactions’ value, with a share of 33.92% (worth $171.22M) in January 2019, followed by Metn and Baabda with shares of 18.65% (worth $94.11M) and 17.15 % (worth $86.57M), respectively. However, Baabda ranked first in terms of the number of real estate transactions executed, as it recorded 676 transactions (equivalent to 18.43% of the total). The North and South followed, grasping 17.23% and 12.03% of total transactions, respectively.
Source Blom Invest Bank