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Lebanese real estate sector declines during July

Value of deals also fell on a cumulative basis, but increased by 14.26 per cent annually

Statistics issued by the General Directorate of Real Estate Affairs show a relative decrease in the performance of the real estate sector in Lebanon during July.

The number of real estate deals decreased by 13.23 per cent on a cumulative level, to reach 33,796 deals since the beginning of 2015, compared with 38,949 during the same period of 2014, reports UAE-based Aliqtisadi.

The sector’s decline also continued on a monthly basis during July to 5,074 deals, compared with 5,592 deals during June 2015.

The value of real estate deals also fell on a cumulative basis, but increased by 14.26 per cent annually to $4.37 billion, since the beginning of this year, compared with $5.10bn, during the same period in 2014.

It is noteworthy that the share of foreign sales of real estate deals increased to 2.33 per cent by the end of July, when it was only 1.69 per cent last year.

($1 = AED 3.67, at the time of publishing)