Real estate activity was heavily impacted by the propagation of the war during the month of September, with the number of sale transactions slowing by 42.96% month-on-month to 2,447 and the value of transactions concurrently slowing by 44.79% to LBP 16.74 trillion. Subsequently, the average value per transaction contracted by 3.21% month-on-month to LBP 6.84 billion ($76.43K at the LBP 89,500 per USD exchange rate), from LBP 7.07 billion ($78.97K) a month earlier. On a cumulative basis, the number of real estate transactions reached 26,430 transactions in the first nine months of the year 2024, in comparison with 12,125 transactions over the same period in 2023 with the value of transactions skyrocketing to LBP 166.41 trillion compared to LBP 56.03 trillion a year before. The rise in the number of transactions can be explained by the fact that real estate registries were closed due to public sector strikes during the most part of the Jan-Sep 2023 period, while none of the registries remained on strike up until September 2024. As for the increase in value of transactions, it can be mainly interpreted by the gradual increase in the Sayrafa rate (which is used by the real estate registry to compute the LBP value of the transactions) which rose from LBP 38,000/USD at end of January 2023 to reach of LBP 86,700/USD in April before stabilizing at LBP 89,500/USD at end of September which coincides with new official exchange rate starting February of the current year. Foreigners’ share of real estate sale transactions rose to 2.24% in the first nine months of 2024 compared to 1.87% in the full year 2023 and 1.04% in the full year 2022.