Real Estate

Severe shortage of apartments in areas where most Israelis want to live will lead to prices rise
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by Ifi Reporter

Category: Real Estate

Over-planning, excess supply in the periphery and a severe shortage of apartments in areas where most Israelis want to live - these are the main problems arising from a follow-up report published by the National Economic Council in the Prime Minister's Office for the 2040-2017 strategic housing plan. According to the report, edited by Nir Brill, Daniel Schwartz, Avraham Zofnik, the most acute shortage among Jewish localities in Israel is in the heart of the demand areas - in the Tel Aviv and Central districts, where more than 70,000 housing units are missing. Last week by the Central...

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Jun 21, 2021

The average mortgage taken by Israelis in May set a record - NIS 879,000
161 Views Details

by Ifi Reporter

Category: 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,...

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Jun 23, 2021

June: Public borrowed NIS 11.588 billion mortgages -  a jump of about 93% compared to last year
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by Ifi Reporter

Category: Real Estate

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...

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Jul 11, 2021

In the Arab sector there is a shortage of about 100,000 apartments compared to the needs
184 Views Details

by Ifi Reporter

Category: Real Estate

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...

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Jul 15, 2021

chief economist at the Ministry of Finance: 40% increase in the purchase of apartments in May
174 Views Details

by Ifi Reporter

Category: Real Estate

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...

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Jul 27, 2021

Bank of Israel decided  not to allow a loan to be used as equity to purchase an apartment in Israel
281 Views Details

by Ifi Reporter

Category: Real Estate

Due to the peak data in the mortgage market, the Bank of Israel announced today that it has finally decided not to allow a loan to be used as equity to purchase an apartment. At the same time, it will be possible to take such a loan as a bridging loan for housing developers, until the end of the process of selling their existing property. That is, this prohibition will be particularly relevant to investors who are in fact leveraging an existing asset to purchase an additional asset. It should be noted that the activity of investors in the real estate market has increased in recent months,...

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Aug 9, 2021

January-March: 31,000 apartments were purchased in the free market  - 39% increase
186 Views Details

by Ifi Reporter

Category: Real Estate

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...

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Aug 17, 2021

June 2021 new record: 13.8 thousand apartments were purchased an increase of 26% compared to 2020
370 Views Details

by Ifi Reporter

Category: Real Estate

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...

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Sep 5, 2021

In the past 12 months 49,000 new apartments were purchased - 32% jump
197 Views Details

by Ifi Reporter

Category: Real Estate

The housing market is turbulent: According to the Central Bureau of Statistics (CBS), in the 12 months of September 2020 to August 2021: 49,000 new apartments were purchased, a 32% jump compared to the previous 12 months September 2019 - August 2020. In that period 37,000 appartments were purchased. In the 12 months that passed until September 2021, construction also began on 13,000 apartments that are not for sale (for example, by purchasing groups and projects of your home)

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Oct 14, 2021

Approved: Three business complexes will be built in East Jerusalem of about 100,000 square meters
171 Views Details

by Ifi Reporter

Category: Real Estate

The Jerusalem Municipality has approved three business complexes in East Jerusalem. The municipality, through the local planning and construction committee, this week approved the plan to build the business complex in Wadi Jouz, which was developed in a joint initiative with the Jerusalem and Heritage Ministry. In addition, the plan for the development of an employment area in the a-Tour neighborhood was approved for deposit, and the plan for the establishment of an employment and commercial complex in the Umm Tuba neighborhood was approved. In the Wadi Jouz neighborhood, a plan for the...

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Oct 19, 2021

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