Lebanon sees 23% rise in value of real estate deals
According to figures released by the Lebanese finance ministry, the value of properties until April of this year jumped by 23.3%, bringing up the total value of property taxes by 11.8%, while construction permits reported an expansion by 11.1% over the period, The Daily Star has reported. The number of sales operations rose by 8.9% from 20,244 in the first four months of 2013 to 22,038 in the same period in 2014. The value of property sales rose from $2.299bn in the first four months of 2013 to $2.834bn in the same period in 2014, a surge of 23.3%. Construction permits covered an area of 4,649,655 sq m in the first four months of 2014, against 4,183,329 sq m in the same period of 2013, a yearly increase of 11.1%, the data showed.