Real Estate

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...

Registration for the second lottery for the apartment at a reduced price has ended. 112,625 households registered this time for the lottery, which ended yesterday (Sunday) at 11:59 PM, and which included 5,499 discounted apartments in 25 localities throughout the country. The results of the current lotteries will be announced in August. While apartment prices continue to rise, demand for discounted apartments is also at its peak. The current lottery joins the first lottery in which about 120,000 eligible people registered and won over 10,000 households in the apartment at a discount....

The average mortgage amount given by the banks to the public decreased in June by about 0.7%, to NIS 988,000 compared to NIS 995,000 in May of this year. In June, banks made 12,024 mortgages and marketed a total of 11.9 billion shekels - according to data published by the Bank of Israel. The decrease in the average mortgage amount occurs at the same time as the decrease in apartment sales and the stagnation in the increase in the volume of mortgages in recent months, after the record recorded in March of this year - NIS 13.4 billion. The decrease in the amount of the mortgage does not...

At the end of three months of discussions, the National Planning and Construction Council announced that it had decided to immediately freeze dozens of urban renewal projects around the metro stations in the Gush Dan area, which include hundreds of apartments, and set restrictions on future projects at a distance of about 100 meters from the stations, which include a potential of tens of thousands New apartments. This, as part of the approval of the outline for the promotion of TMA 38 projects in the area of ​​TMA 70 - the national outline plan for the area of ​​the metro system in the Tel...

Veev, which develops innovative construction methods, is laying off more than 100 employees from its 400-strong workforce. At the development center in Israel, which employs 100 people, about 20 people will be laid off. Veev, founded by Ami Abrahami and Amit Heller, has developed capabilities for building modular homes. Veev's working method involves manufacturing complete and closed walls in the factory, so they pre-include systems such as plumbing and electricity. Assembling a house in the field takes about two weeks. The company stated in the past that they have all the necessary...