FINANCIAL NEWS

Lebanon property sales jump 41% in Q1

18 May 2010

(MENAFN) Lebanon?s Directorate of Real Estate said that real estate transactions in Lebanon in the first quarter of 2010 jumped by 41 percent compared to the same period of 2009, reaching a more than $2 billion, The Daily Star reported.

According to the report, the first quarter of the year 2010 witnessed a significant increase in the number of property sales transactions, coupled with an even higher rise in the value of such transactions.

The number of property sales transactions went up by 41 percent in the first quarter of 2010 to reach 22,059 transactions, a record high compared to previous years, the report said.

It added that a surge of 19 percent in sales transactions to foreigners showed a continued upward trend, proving the ongoing interest by foreigners, mostly Gulf Arabs, in purchasing properties in Lebanon.

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