Real-Estate in Lebanon skyrokets
The number of real-estate sales operations in Lebanon in the first five months of 2008, rose by 19.4 percent (1/5th) compared to the same period of 2007.
This was coupled with a significant rise in property taxes receipts of 55.2 percent to reach LL204.7 billion. The Lebanese ministry of Finance said in a statement the ‘value of properties sold‘ in Lebanon over the past five months of this year rose by 72 percent to reach $1.993 billion.
It added that although property prices have been on an upward path in Lebanon, this rise has been at a slower pace than the global and regional increases in real-estate prices, thereby leading to a further interest in Lebanon’s real-estate sector.
The majority of collected property taxes in the first five months of 2008 were in:
- Beirut with 30.3 percent of the total amount.
- Baabda with 22.2 percent,
- Metn with 19.1 percent,
- Keserwan with 11.0 percent,
- North with 7.1 percent,
- South with 5.5 percent,
- and the Bekaa Valley with 4.0 percent.
Filed under: Strictly Lebanese | 7 Comments
Tags: Lebanon, real estate