Real Estate

Four months after the formation of the government and against the background of the astronomical jump in housing prices, Housing Minister Zeev Elkin, Interior Minister Ayelet Shaked, and Finance Minister Avigdor Lieberman announced today Sunday a comprehensive housing plan for 2022 to 2025 centered on the following ambitious goals: planning to build half a million housing units, 280 thousand construction starts, 180 thousand transactions on state lands and a record marketing already this year of 80 thousand housing units. At the center of the program are several new measures, which have not...

The housing market is boiling: According to a survey by the chief economist at the Ministry of Finance, Shira Greenberg, 14.1 thousand apartments were purchased in August alone, the highest level since the historic record in June 2015. This is a 31% increase compared to August last year and an 8% increase compared to last July. It should be noted that the level of transactions in August 2020 was high in itself against the background of a jump in investor purchases, after the purchase tax was lowered at the end of July that year. The survey shows that investors bought about three thousand...

A survey published by the Central Bureau of Statistics (CBS) regarding demand for new dwellings shows that despite the holidays, in September this year 4,727 new dwellings were sold to the general public - a 45% jump compared to September 2020, when 3,258 new dwellings were sold; compared to the previous month (August 2021 ) Where 3,902 new apartments were sold, an increase of 21%. On an annual basis (last 12 months - October 2020-September 2021), this is a 34% increase in the sale of new dwellings, after 51,454 new dwellings were sold in the past year, compared with 38,401 new dwellings...

The law to increase the purchase tax on apartments went into effect on Sunday. Under the new law, purchase tax brackets on investors will be changed from three to two. The tax rate will increase from 5% to 8%. The tax for apartment buyers worth up to NIS 5.348 million will be 8%, instead of 5% -7% to date. Buyers of a higher value investment apartment will pay 10%, as has been the case so far. The Ministry of Finance now hopes that raising the tax will curb the purchases of real estate investors. The tax increase was approved in the Knesset without significant changes from the bill...

The total number of new mortgages granted by the banks in Israel in November is NIS 10.98 billion, an increase of 2.5% compared to NIS 10.7 billion in October, according to data from the Bank of Israel. Since the beginning of 2021, NIS 104 billion in mortgages have been taken out - further evidence that 2021 is a particularly strong year in the real estate market. During the third quarter. If in 2020 the total monthly mortgage taking averaged about NIS 6.5 billion, then 2021 is expected to end with a monthly average of NIS 9.45 billion in taking out mortgages. This is despite the fact that...

The Housing Cabinet, headed by Minister of Construction and Housing Zeev Elkin, convened and approved a series of measures in the areas of urban renewal in the periphery and grants as part of a target price program. Among other things, Minister Elkin's proposal to promote urban renewal projects in the periphery, funded by the government, was approved. Under the program, the Government Authority for Urban Renewal will issue a call for the selection of urban renewal projects in peripheral localities, and the selected projects will be given a grant to carry them out. The grants will be funded...

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...

After the highs of November, a decrease in the number of real estate transactions in December due to the increase in the purchase tax for investors, but still a historic record at an annual level: About 35% of the November peak of 18.2 thousand apartments per month. Compared to December 2020, there was a decrease of 12.5%. In an annual summary, about 151,000 apartments were purchased in 2021, a historical record level, which is 27% higher than the previous record recorded in 2015. Compared to 2020, this is an increase of 40%

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"...