Total real estate transactions added a yearly 5.55% in the first half (H1) of 2014 to reach 34,344 transactions.
Total value of property sales transactions surged by 17.74% year-on-year (y-o-y) to $4.48B by June. Hence, the average value of real estate transaction went up from $117,054.55 in H1 2013, to $130,568.45 in H1 2014.
Sales to foreigners plunged by an annual 14.14%, settling at 510 transactions. Adding to that, foreigners took a share of 1.48% of total real estate transactions by June 2014, compared to a higher share of 1.83% 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