Ministry of Finance: purchase of apartments at a price lottery for consumers recorded an increase

wwwww

by Ifi Reporter Category:Real Estate Feb 10, 2020

A review of the residential real estate industry in December 2019, conducted by the Chief Economist at the Ministry of Finance, showed that the purchase of apartments at a price lotary for the consumer recorded an increase - compared with a decrease recorded in the purchase of second-hand apartments. Investors also purchased apartments in the Tel Aviv area, mainly due to a large sales operation of New apartments, but decreased in apartments in other areas.
The survey shows that in December 2019, there was a 6% increase in apartment purchases compared to December 2018, while the new apartment segment - including the price per dwelling - saw a 26% increase in apartment purchases compared to December last year. Dwellings sold in December 2019 at a price-per-user rate rose 28% compared to December 2018, with 60% of those sales being concentrated in the Be'er Sheva and Jerusalem areas. Another interesting finding mentioned in the review is that the exit of Kiryat Gat's investors is evident, and the entry of eligible buyers to the buyer - who according to their characteristics have purchased apartments for investment purposes.
The Ministry of Finance notes in an annual summary that in 2019, 40,000 new apartments were sold, including in the price-per-dwelling route, a 13% increase over all new homes sold in 2018, and the highest level since 2002. This peak was achieved by a sharp 72% increase in sales Price-per-dwelling apartments.
In the second-hand market segment, however, there was a 5% decrease in the purchase of apartments in December 2019 compared to December last year. The weakness in the sale of second-hand apartments was recorded in all areas except for Hadera and Netanya.
Investor acquisitions remaining in December 2019 at a level of 13% compared to all transactions in the market recorded a 2% increase compared to December 2018. The Treasury notes that the increase is concentrated in the Tel Aviv area, compared with a 10% decrease in the purchase of apartments by investors in the other regions. According to the Ministry of Finance, one of the reasons for the sharp increase recorded in Tel Aviv investors' purchases is the sale of "Gindi Holdings" to sell apartments in the company's project in Yad Eliyahu, some of which has acquired the Reit Fund, which increased sales of new apartments in the Tel Aviv area 300% compared to December 2018.
The survey also shows that buying apartments by young couples recorded a 2% decline in December 2019 compared to December 2018. A notable 17% decrease in these purchases was recorded in the Central Region, due to the effect of the increase in purchases in the price range for the resident.

30 Views

Comments

No comments have been left here yet. Be the first who will do it.
Safety

captchaPlease input letters you see on the image.
Click on image to redraw.

Testimonials

No testimonials. Click here to add your testimonials.