What happened to property prices after the war that began on 28 February 2026?

Also asked as: “Did property prices fall after the 28 February 2026 war?” · “Lebanon property prices after the 2026 war” · “Did the 2026 war lower house prices in Lebanon?” · “Lebanese real estate after the March 2026 fighting”

What the figures measure, and what they leave out#

Lebanon has no reliable, continuous national property price index^[1,2]. The figures in the press count registered sales and add up their value. They describe a whole district or the whole country, so they tell you nothing about a particular floor, a view, a broken lift or a deed shared between heirs^[2].

Asking prices are a separate number. Several sources say advertised prices and recorded sale prices differ, and that listed prices are often what owners hope to get rather than what they would accept^[1,2,3]. We found headlines saying "prices are not dropping", but none came with a data series we could check. More on the gap in why advertised prices differ from registry prices.

Sales fell when the fighting resumed, then picked up#

For January to May 2026 the sources disagree. Credit Libanais, reported by An-Nahar, counts 19,097 deals, 32.25% fewer than a year earlier, with value down 17.79%. Libnanews gives about 24,096 deals (down 27.3%) worth about USD 2.6 billion (down about 8%). A BLOMINVEST figure we could not re-open gives 18,631 deals worth USD 1,958.8 million. None of them explains the difference, and Credit Libanais linked the slowdown to the fighting that resumed in early March 2026^[3,4,5].

After the mid-April ceasefire, deals rose 4.64% in May on April, reached 4,999 in June and 5,308 in July, the highest month of 2026 up to then^[3]. For January to August, BLOMInvest Bank counts 34,083 sales worth about USD 3.70 billion. The advisory firm Cedar Keys Estates, which has an interest in the market, counts 34,549 worth USD 3.74 billion and says the value gap on 2025 narrowed from 17.8% in May to 3.8% by August. The number of sales was still about 25% lower than in 2025^[2].

A LeBusiness teaser, whose source and method we could not check, puts January to September 2026 sales at LBP 407.10 trillion, 3.30% more in value than a year earlier, with 20.40% fewer deals^[2]. That value is in pounds, and the teaser does not say which exchange rate lies behind it. In a July 2025 report, BLOMINVEST converted registry values at USD/LBP 89,500 (from 1 February 2024)^[6]. The month-by-month detail is in how many sales were registered in 2026.

Why a bigger average deal does not mean higher prices#

The average registered deal was about USD 108,000 for January to May and about USD 108,400 for January to August, and Libnanews stresses this is not an average apartment price^[2,4]. In 2025 the average was about USD 86,741^[1,5]. The average can rise because larger or pricier properties are changing hands, as well as because the same flat costs more. No source has separated the two.

The buyers have changed too. Libnanews describes a two-speed market: people with fresh dollars can still buy, households tied to old bank deposits largely cannot, and quality property in sought-after areas finds buyers while other listings sit unsold^[4]. As of autumn 2026, trade and news reports say commercial banks were still not writing home mortgages^[4,7].

Where the war hit hardest#

In war-affected areas such as the South, Libnanews writes that value is tied to reconstruction, return, compensation and security, and does not follow the price logic of Beirut or Mount Lebanon^[4]. It gives no price data for the South. For Dahiyeh, the only market report we found dates from January 2026, before this war. The Beiruter, citing R.E.A.L president Walid Moussa, reported many properties listed for sale out of fear of renewed Israeli attacks, little actual demand, and buyers entering only at deep discounts, without giving a discount size^[8]. See which areas were damaged and how that affects values and whether it is safe to buy in the south, the Bekaa or Dahiyeh.

Libnanews reports that R.E.A.L president Walid Moussa expects rises of up to 30% by the end of 2026. It calls this a professional anticipation, not an observed rise, and says it does not mean every flat will gain 30%^[4]. We do not forecast prices. The views that circulate are collected in where prices may go next.