Total real estate transactions did not stray from their upward trend during the first quarter of 2014 to reach 16,069 transactions, achieving a 16.12% upsurge compared to the first quarter of 2013. In details, the total value of property sales transactions was boosted by 35.76% y-o-y from $1.51B in 2013 to $2.05B by March 2014.
Therefore, the average value of a real estate transaction went higher to $127,865 during the first quarter this year compared to $109,371 in the same period of 2013. Sales to foreigners expanded by 7.31% year-on-year, reaching 235 transactions. However, foreigners’ share of total real estate transactions went down from 1.58% by March 2013 to 1.46% this year. This means that Lebanese residents and non-residents are the main buyers, but foreigners seem to have started reinvesting in the country as witnessed by the increase in their transactions number.
The Lebanon Brief