Total real estate transactions in Lebanon edged up by a yearly 4.10% during the first 10 months of 2014, to reach 58,080 transactions.
Total value of property sales transactions swelled by 7.48% year-on-year (y-o-y) to $7.41 billion by October. Therefore, the average value of real estate transaction went up from $123,539 in the first 10 months of 2013, to $127,553 in 2014.
Sales to foreigners decreased where their share stood at 1.54% of total real estate transactions by October 2014, compared to a higher share of 1.81% during the same period last year. This implies that Lebanese residents and non-residents are the principal factors behind the improvement in the real estate market.
The Lebanon Brief – BLOM Bank