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Lebanon first quarter real estate sales rose 41 percent
Value of transactions more than double the value recorded for first quarter 2009.
May 18, 2010 3:54 by Rasha Reslan
First quarter real estate sales in Lebanon topped $2 billion this year, according to Directorate of Real Estate, Zawya.com reported Tuesday.
Both the number and the value of real estate transactions rose in the first quarter, compared with the same period last year.
Bank Audi’s Weekly Monitor reported that the robust property sector was strengthened by large remittances from abroad, inflows of foreign capital, tourism, and population growth, Zawya said.
Sales to foreigners rose 19 percent, the report said, noting that Arabs from Gulf states were the predominant foreign buyers.