All real estate registries opened during the month of January 2025, while those of Saida and Nabatieh were closed in most parts of December as a result of the ramifications of the war. This partly explains the monthly increase in the volume (up by 26.58%) and value (up by 19.49%) of real estate transactions to 5,476 and LBP 41.85 trillion in January on a respective basis. The average value per transaction, however, dropped by 5.60% month-on-month to LBP 7.64 billion ($85.39K at the LBP 89,500 per USD exchange rate), from LBP 8.10 billion ($90.46K) a month earlier. It is worth noting, however, that the bulk of the work of real estate registries nowadays, and especially for those that remained most on strike (Mount Lebanon for example), is geared towards the processing of backlogged real estate transactions. As such, the figures displayed in the below section are not reflective of actual real estate activity that occurred during the concerned months. On an annual basis, the number of real estate transactions almost doubled in January of the current year when compared to the 2,760 transactions reported in the same month last year with the value of transactions almost tripling. The rise in the number of transactions can be explained by the fact that real estate registries gradually opened during the year 2024, while none were closed in January 2025. Foreigners’ share of real estate sale transactions dropped to 1.94% in January 2025 from 2.36% in the full year 2024 and 1.87% in 2023.