Real estate activity picks up in September

Lebanon’s real estate sector recorded a monthly improvement in September 2012, although in the first three quarters, activity was weaker than it was last year. The number of real estate transactions reached 6,610 during the month of September, up from 5,809 in the previous month, according to data from the Real Estate Directorate of the Finance Ministry. The value of total transactions still rose at a faster pace to $830 million from just over $700 million in August, indicating a 4.2-percent monthly increase in the average value per transaction to $125,567. In the first three quarters of 2012, the number of sales decreased by 9.2 percent year-on-year to 52,621 although average value per transaction was considerably higher at $120,104, compared to last year’s $104,048. In Beirut, the average value per real estate transaction jumped to $536,466 from $456,136. From DailyStar