Both new home sales and housing inventory continued to fall in June, says Bank Leumi in its weekly macroeconomic report. “It is premature to saw whether the fairly low level of homes sales in June (13,300 apartments in seasonally adjusted figures) is a change in trend, given that home sales in May were unusually high, [...]
The Bank of Israel’s second quarter inflation report seems to warn quite clearly of a bubble forming in real estate prices. The report says, “Apartment prices (which are not included in the CPI) have continued to rise since the beginning of the year by more than the rate derived from the housing market fundamentals.” The [...]
Home purchases rose by a further 8% in June 2010, a fraction of the 35% increase in purchases in May, according to the Ministry of Finance’s Red Lights macroeconomic survey. Home purchases in June were 6% fewer than in June 2009. New home purchases were over 20% less in June than in June 2009. The [...]
Mizrahi Tefahot Bank (TASE:MZTF) is strengthening its mortgage business in the haredi (ultra-orthodox) community, by financing a 150-apartment project for a buyers group in Beit Shemesh. The bank will also provide NIS 65 million in mortgages to members of the buyers group. A number of haredi rabbis and public figures head the buyers group. The [...]
“Apartment prices will fall on their own. Like everything else, after such a rise, the market at some point will be saturated, and prices will fall, because people won’t be able to pay. When prices rise so much more than GDP, it’s impossible to pay,” said Alony Hetz Property and Investments Ltd. (TASE: ALHE) CEO [...]
Second-hand apartments sold Tel Aviv and central region Tel Aviv: A 60-sq.m. three-room apartment on Kehilat Padova St. was sold for NIS 1.33 million. A renovated 150-sq.m. five-room apartment with a storeroom and parking on Uri Zvi Ginzburg St. was sold for NIS 2.33 million. A 65-sq.m. three-room garden apartment on Plugot St., Neve Zahal, [...]
he Mishkan Hapoalim Mortgage Bank Homebuyers Index rose for the third consecutive month in June, despite rising home prices. The index rose 0.5% in June, following gains in May and April. Factors supporting the improvement in the condition of homebuyers were the decline in mortgage interest rates, the rise in the average national salary, and [...]
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Office rent in Jerusalem and Haifa has risen over the past decade, while office rent in Beersheva has fallen, according to a survey by economic consulting firm Czamanski Ben Shahar Ltd. Office rent in downtown Jerusalem rose from NIS 57 per square meter in 2001 to NIS 75 per square meter in 2008, but fell [...]
The Faire Fund has sold three more apartments in its luxury Faire Tower in Ramat Gan, after selling seventeen apartments during June. Some of the deals were for record prices in the city. Faire Fund sold a 142-square meter five-room apartment with a 15-sqare meter balcony on the 24th floor for NIS 3.65 million, reflecting [...]
The 13 Facts That You Absolutely Must Know Before Buying A Home In Israel