Lebanon: End of year boost for real estate sector after tough 2012
The real estate sector in Lebanon saw robust activity during the last month of 2012, with the number of real estate transactions increasing to 9,007, up from 6,481 transactions in November.
On a cumulative basis, however, the number of real estate transactions fell by a double-digit figure, 10.14 percent, for the full year 2012 to 74,569 from 82,984 in 2011.
Nevertheless, the value of real estate transactions rose by 13.04 percent in December to $1.07 billion up from $0.94 billion in November.
Concurrently, the aggregate value of real estate transactions was up 3.80 percent to $9.18 billion in the full year 2012 comparing to $8.84 billion in the year 2011.
Consequently, the average value of a real estate transaction rallied to $123,051 in 2012 compared to $106,533 in the year 2011.
The share of foreigners in real estate sales transactions rose slightly to 1.86 percent in December 2012 from 1.83 percent in November 2012 and 1.81 percent at year-end 2011.