Figures released by the Ministry of Finance show that the ministry registered 9,361 real estate transactions in the first four months of  2024 compared to 1,761 real estate transactions in the same period of 2023. In comparison, the ministry registered 32,288 real estate  transactions in the first four months of 2022 and 22,580 real estate deals in the same period of 2021. The surge in the number of registered  transactions in the first four months of 2024 is due mainly to the resumption of activity in the General Directorate of Land Registry and  Cadastre, as repeated strike by public sector employees delayed for long periods of time the registration of real estate transactions.  Further, the ministry registered 2,650 real estate transactions in the North in the first four months of 2024, representing 28.3% of the  total. The Bekaa/Baalbeck-Hermel region followed with 2,205 deals or 23.6% of the total, then the South governorate with 1,865 transactions (20%), Beirut with 1,139 deals (12.2%), the Nabatieh governorate with 1,067 transactions (11.4%), and the Keserwan/Jbeil  region with 16 deals (0.2%), while it did not register any real estate transactions in the Baabda/Aley/Chouf area and the Northern Metn  district in the covered period due to the prevailing strikes. Also, real estate transactions totaled 2,718 in April 2024, and decreased by  18% from 3,312 real estate deals in March 2024.In parallel, the aggregate amount of registered real estate transactions stood at LBP52,709.7bn in the first four months of 2024 relative  to LBP1,591.5bn in the same period last year. In comparison, the amount of real estate deals was LBP4.5bn in the first four months of  2022 and LBP3.5bn in the same period of 2021. Further, the value of registered real estate transactions in Beirut was LBP26,954.7bn  and accounted for 51% of the total in the first four months of 2024. The South governorate followed with LBP9,242.8bn (17.5%), then  the North region with LBP7,988.8bn (15.2%), the Bekaa/Baalbeck-Hermel region with LBP4,311.1bn (8.2%), the Nabatieh governorate  with LBP3,304.2bn (6.3%), and the Keserwan/Jbeil region with LBP3.1bn (0.01%). In addition, the aggregate amount of real estatetransactions reached LBP16,173.7bn in April 2024, constituting a decline of 16.2% from LBP19,294.2bn in March 2024.In parallel, the average amount per registered real estate transaction was LBP5.6bn in the first four months of 2024, and jumped by  523% from an average of LBP903.8m in the same period of 2023. Further, there were 198 real estate transactions executed by foreigners  in the first four months of 2024, compared to 26 deals in the same period of 2023, to 311 transactions in the first four months of 2022,  and to 316 deals in the same period of 2021. The number of real estate deals by foreigners accounted for 2.1% of the registered real  estate transactions in the first four months of 2024, up from 1.5% in the same period of 2023 and relative to 1% in the first four months  of 2022 and to 1.4% in the same period of 2021.  Further, 27.8% of real estate transactions executed by foreigners in the first four months of 2024 were in the North region, followed by  Beirut (25.3%), then the South governorate (23.7%), the Bekaa/Baalbeck-Hermel region (20.7%), and the Nabatieh governorate (2.5%).  The latest available figures show that Syrian citizens accounted for 44.5% of the amount of real estate transactions executed by foreigners  in December 2023, followed by Qatari nationals (13.6%), U.S. citizens (8.2%), Citizens from Germany (6%), and Canadian citizens  (3.1%), while the remaining 24.6% accounted for citizens from other countries. (ICE BEIRUT)

Fonte notizia: Byblos Bank, May 20-25, 2024