Complex Made Simple

Lebanon’s property deals fall by 12 per cent in November

Value of real estate transactions declined to $692.25m in October

Lebanon’s real estate sector showed an improvement in performance during October 2015 as the number of real estate deals increased to 5,803 deals from 5,510 deals in September.

According to statistics issued by the General Directorate of Land Registry and Cadastre, the number of real estate deals decreased on a cumulative basis by 11.92 per cent per year to 51,096 deals during the first ten months of 2015, compared with 58,009 deals during the same period of the previous year.

The value of real estate deals declined to $692.25m in October 2015 from $712.19m in September, reports UAE-based Aliqtisadi.

The cumulative value of real estate sales deals also fell by 12.76 per cent per year to $6.46bn during the first ten months of this year, compared with $7.41bn during the same period of 2014.

The value of a single real estate deal fell to $126,514 from the beginning of the year until October, compared with $127,710 during the same period of 2014.

($1 = AED3.67, at the time of publishing)