Real Estate

The year 2021 culminated in a record mortgage takeover: homebuyers received NIS 116 billion from banks, a sum that skyrocketed demand and apartment prices to unprecedented highs. This is an increase of 149% compared to 2020, which was also a record year in real estate, in which the banks marketed NIS 78.1 billion in mortgages. And a jump of 11% compared to the previous month, November 2021. The total number of new mortgages granted by banks in Israel in November is NIS 10.98 billion, an increase of 2.5% compared to NIS 10.7 billion in October

In January 2022, there was a sharp decrease in the volume of mortgages taken by Israelis compared to December, when an all-time record of mortgages by homebuyers was set. This could indicate the purchase of fewer apartments at the beginning of 2022 than in the last months of 2021. Data from the Bank of Israel published today (Sunday) show that in January the public took out almost NIS 10 billion in housing loans (to be exact: NIS 9.966 billion), compared with NIS 12.219 billion in December 2021. In November the public took NIS 10.985 billion, in October NIS 10.688 billion and in the...

The big lotteries on discounted apartments are back this week. On Sunday, registration opens for a large raffle of about 10,000 discounted apartments in 150 different projects in 31 localities across the country, in the north, in the south and also in the center. The lottery comes after a long period in which large lotteries for discounted apartments were not held under government housing programs, for several reasons, including political instability, government turnover and housing programs, and, of course, bureaucracy. The current big lottery is the first in the new "Target Price"...

2021 was a record year in the real estate market and not only in terms of prices and sales of apartments. Data published by the Central Bureau of Statistics (CBS) summarizes the number of construction starts in 2021 amounted to 63,330,000 apartments - a record not observed since 1995. This is an increase Of 13% compared to 2020, when construction began on 55,990 apartments. The data are set against the background of statements by Finance Minister Avigdor Lieberman on new measures to cool price increases, the launch of a new lottery for 10,000 discounted apartments funded by the government...

The Bank of Israel announced Sunday a number of measures that ostensibly signal an increase in credit risks in the real estate market. The possible significance of this step could be the rise in interest rates that banks will charge on loans to purchase high-leveraged land. The Supervisor of Banks, Yair Avidan, said that "in light of the increase in risk appetite and the banking system's exposure to the construction and real estate industry, we have recently instructed the banks to hold appropriate discussions on the matter with their boards of directors and management

The record for taking out mortgages by the public of apartment and house buyers in Israel was broken, just before the interest rate was raised: The volume of new mortgages taken by the public in March amounted to NIS 13.42 billion, about NIS 1 billion more than the previous record in December last year. This was reported by the Bank of Israel. This is an increase of 19.7% compared to the previous month and an increase of 55.7% compared to the corresponding period last year. In total, housing loans totaling 34.6 billion were taken out in the first quarter of the year, and 137 billion in the...

The average mortgage amount reached a peak of NIS 975,000 in March - another step up in mortgage activity, which reflects the increase in apartment prices and the leverage of bank customers, in light of the rise in apartment prices. This, is without a corresponding increase in the equity of apartment buyers. Investors finance the increase in total mortgages by increasing repayments and increasing the average duration of the mortgage repayment. Data from the Bank of Israel show that 13,780 mortgages were taken out in March - an increase of 15.5% compared with February, which mainly reflects...

After Finance Minister Avigdor Lieberman claimed yesterday that rental prices had not risen significantly, the Knesset approved the establishment of a committee to examine the rental housing market under the Economics Committee, headed by MK Yevgeny Soba, a Knesset member of Lieberman Yisrael Beiteinu's party. The faction because he did not know at all about the establishment of the committee and not about the appointment of MK Soba. The committee that will be established will also include MK Limor Magen Telem (Yisrael Beiteinu) and MKs Ron Katz (Likud) and Uri Maklev (Torah Judaism)....

Encouraging data on the acceleration in the pace of apartment construction. Data from the Central Bureau of Statistics published today (Monday) show that the first quarter of 2022 was a record quarter in the rate of construction starts. The number of dwellings that began to be built in the quarter was 19,943 - an increase of 3% compared to the previous quarter and a jump of 40% compared to the corresponding quarter last year. This is the second consecutive quarter in which apartments are being built at a rate approaching 80,000 apartments per year, a record of 20 years

The total number of mortgages taken out in June 2022 was 11.88. In 2021, the total volume of mortgages crossed the 100 billion mark for the first time and stood at NIS 116.09 billion, with a monthly average of NIS 9.674 billion. This is compared to a total of NIS 78,108 billion in 2020 (a jump of almost 50%). The total mortgages granted so far in 2022 stand at about NIS 60 billion. In 2021, the total volume of mortgages crossed the 100 billion mark for the first time and stood at NIS 116.09 billion, with a monthly average of NIS 9.674 billion. This is compared to a total of NIS 78,108...