Real estate activity was heavily impacted by the escalation of the war during the month of November, with the number of sale transactions dropping by 20.03% month-on-month to 2,500 and the value of transactions concurrently decreasing by 10.14% to LBP 27.17 trillion. The average value per transaction, however, rose by 12.36% month-on-month to LBP 10.87 billion ($121.42K at the LBP 89,500 per USD exchange rate), from LBP 9.67 billion ($108.06K) a month earlier. On a cumulative basis, the number of real estate transactions reached 32,056 transactions in the first eleven months of the year 2024, in comparison with 20,339 transactions over the same period in 2023 with the value of transactions skyrocketing to LBP 223.81 trillion compared to LBP 74.27 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-Nov 2023 period, while none of the registries remained on strike up until September 2024. It is worth noting realty figures for Nabatieh and Saida were not published during the months of October and November 2024 on the back of the hostilities on these regions. As for the cumulative increase in value of realty transactions, it can be mainly interpreted by the gradual changes 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 November which coincides with the new official exchange rate starting February 2024. Foreigners’ share of real estate sale transactions rose to 2.21% in the first eleven months of 2024 compared to 1.87% in the full year 2023 and 1.04% in the full year 2022.