Real Estate

The average mortgage taken by Israelis from the banks in May set a new record - NIS 879,000. This is compared to an average mortgage of NIS 866,000 in April and NIS 797,000 in May 2020. In the last five years, the average mortgage has risen by 30%, while the price of an average apartment has risen by only 15%, according to the Central Bureau of Statistics. Data from the Bank of Israel published today (Wednesday) join the report of a record total of mortgages in May, which stood at NIS 9.5 billion. The number of loans for the purchase of an apartment amounted to 10,773 loans in May,...

According to data from the Bank of Israel, in June the public borrowed NIS 11.588 billion. This is a jump of about 93% compared to June last year, when only last month (May) broke an all-time record when mortgages were taken out in the amount of NIS 9.47 billion. Since the beginning of the year, the public has taken out mortgages amounting to NIS 51.7 billion, and assuming that mortgages continue at a similar rate, the public will take out mortgages worth more than NIS 100 billion this year, with an all-time high of more than NIS 78 billion broken last year. . The average annual...

The National Economic Council sent the government a report that did not receive much response. This is quite surprising, because the data that appeared in it are particularly disturbing. A shortage of about 17,000 apartments is expected, and 13,000 apartments will be missing in the Jerusalem district. The report presents a particularly gloomy situation in the localities of the Arab sector, where from 2006 to 2022 there will be a shortage of about 100,000 apartments compared to the needs. In the Haifa District, 11,000 apartments will be built compared to the need for 27,000 apartments; and...

The monthly review of the chief economist at the Ministry of Finance, Shira Greenberg, published, reveals unsurprising data for May, when there was another increase in the purchase of apartments throughout Israel. In May, 12.5 thousand apartments were purchased, an increase of 40% compared to May 2019 and an increase of 15% compared to last April. Comparing the level of transactions in the free market last May to its counterparts in the last twenty years, it is found that this is the second highest level, and is only ahead of the level of sales in May 2013. In the market segment of new...

According to data from the Chief Economist at the Ministry of Finance, Shira Greenberg, in January-March this year, about 31,000 apartments were purchased in the free market - the highest level since the record set in the second quarter of 2015, which overshadowed investors' pre-acquisition purchases. This is a 39% increase compared to the first quarter last year, which was partly overshadowed by the outbreak of the corona plague. Compared to the corresponding quarter in 2019, this is an increase of 29%. Compared to the last quarter of 2020, this is a more moderate increase of 8%. This...

June 2021 set a new benchmark in apartment purchases since the peak set in June 2015 (then investors preceded their purchase against the background of the purchase tax increase), in this month 13.8 thousand apartments were purchased an increase of 26% compared to June last year. Due to the corona virus. It is difficult to say that the figure for the high volume of transactions published by the Chief Economist's Division of the Treasury was surprising, given the Bank of Israel's data on the volume of mortgages in June, which set an all-time high of NIS 11.6 billion. This amount was divided...