The Lebanese real estate sector continued to prosper during the month of May 2014, with the number of transactions increasing to 6,339, up from 6,204 transactions in April. Furthermore, and on an annual basis, the number of real estate transactions rose by 8.97% to 28,377 up until the month of May 2014, from 26,042 transactions over the same period in 2013. The value of transactions rose to $991.21 million during the month of May alone, up from $779.48 million in April.
Similarly, the cumulative value of real estate transactions burgeoned by 26.67% y-o-y to $3.83 billion up to the month of May, from $3.02 billion during the first five months of the year 2013. Consequently, the average value per transaction skyrocketed to $134,805, up from $116,114 a year before, with the share of foreigners of total real estate sales transactions dropping sharply to 1.51% during the first five months of the year 2014, down from 1.85% in the full year 2013.
The average value per real estate transaction in Beirut increased significantly to $601,900 as at end of May 2014, up from $499,948 at year-end 2013, with the average value per transaction in the Kesserwan region rising to $126,855, from $124,664 in the full year 2013. Conversely, the average value per transaction in the Metn region fell to $202,327, down from $213,584 in the year 2013.
General Directorate of Land Registry and Cadastre, Credit Libanais Economic Research Unit