Complex Made Simple

Property sales in Lebanon drop 21%

The political deadlock over cabinet formation in Lebanon and the unrest in the region have weighed in on the country's once booming real estate sector, with total sales of properties falling 21% in the first four months of this year, The Daily Star has reported. Property transactions registered at the finance ministry reached 23,563 in this period, a drop of 21.3% compared to the same period of 2010. The decline was also accompanied by a 16% fall in the value of property sales during the period to $2.449bn, compared with the first four months of last year.