OLX Lebanon Issues its mid year Property Report

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  • “Properties” category on OLX Lebanon received an average of 1 million visits per month in the first half of 2017
  • More than 800K Lebanese used OLX Lebanon monthly in 2016
  • 29% of OLX’s platform users visited Properties category
  • Properties category on OLX Lebanon witnessed more than 111K listings for the first half of 2017
  • 14% of the total listings, across all  verticals, were in the Real estate section
  • From the demand side: Metn, Chiyah, Keserwan, Baabda, Jbeil, Aramoun, and Ras Beirut were recorded the most searched areas for rent and sale

Beirut, Lebanon: OLX Lebanon, the leading property platform in Lebanon, has compiled an extensive report, for the period in between January and June 2017, that covers Lebanese property market trends and consumer behaviour. More than 1 million visits per month were recorded in the first half of 2017; such a number is a direct reflection of the increasing growth in popularity of the platform in the Lebanese market and the confidence people have in it.

Based on the rich data and information accumulated on OLX Lebanon platforms, OLX is committed to regularly gathering the facts and figures that pertain to consumer search patterns, demand and supply behaviors, as well as the most frequently sought out property on OLX Lebanon, and sharing them with the public as an indicator to drive transparency within the market.

Commenting on the results of OLX Lebanon’s Property report, Mr. John Noja, GM OLX Lebanon stated, “The report reflects the exponential growth we have achieved in the Properties category on OLX Lebanon. The results we received, from this mid-year report, is superb as we truly feel the trust the residents in Lebanon have in OLX’s platform, resorting to it as a reliable platform to find a new home, searching through its unlimited choices to find the most appropriate choice that suits their needs.”

The figures provided, in the OLX Lebanon report, offer an overview of the property trends observed in Lebanon during the first half of 2017, as 29% of the platform users visit the property category,  a dependable platform for people in Lebanon to list their properties. Moreover, OLX Lebanon property section witnessed over 111K listings for properties for sale and rent, with every property receiving the first lead within 48 hours of it being listed, which enables users to get more options when making an important property related deal.

The report also highlights the property supply and demand of various Lebanese regions. From the demand side: Metn, Chiyah, Keserwan, Baabda, Jbeil, Aramoun and Ras Beirut were recorded the most searched areas for rent and sale.

Additionally, the report covers a comparative review that highlights the property prices for the rent and sale of a 2-bedroom apartment in different areas, in the first half of 2017, compared to the second half of 2016.

Comparative Rental Property Highlight

Beirut area showed a 7% decrease in rental prices, Koura showed a 12% decrease, whereas the Chouf area showed a 10% increase, Tripoli showed a 7% increase and Nabatieh showed a 2% increase, while the rental prices in Saida decreased by 8%, and Baadba by 2%.

Comparative Property for Sale Highlight

Koura showed a 40% increase in sale prices, whereas the Chouf area showed a 21% increase, Tripoli showed an 8% increase and Nabatieh showed a 21% decrease, while the sale prices in Saida decreased by 14%, and  Baabda by 14%.

OLX has proven to be a trust-worthy, hassle-free and user-friendly method for people to find property for rent or for sale, especially that it is free as well as commission-free. By visiting olxliban.com on a laptop, a mobile phone or any other device, the process is a simple ‘click and post’ away with direct cash payment method.

About OLX Group:

OLX Group is the world’s leading online classifieds platform present in more than 40 countries across six continents. We connect local people to buy and sell used goods, services, cars and properties. We make it fast and easy to buy or sell almost anything through your mobile phone or on the web.

Through brands including OLX, Avito, dubizzle and letgo, OLX Group is the home of online classifieds in high-growth markets. We are the leading destination for buying and selling used goods and services in 35 countries, and the #1 mobile app in our category in more than 22 markets. Globally we estimate that around 11 million items are exchanged through our platforms every single month, giving products a second life and reducing their ecological footprint.

OLX Arabia is actively expanding in the MENA region in Bahrain, Egypt, Kuwait, Lebanon, Oman, Qatar and Saudi Arabia.