Real Estate

In the second quarter of 2022, in the three months of April-June, approximately 10,970 new apartments were sold, a decrease of 14.4% compared to the previous quarter (January-March 2022), according to data published today (Sunday) by the Central Bureau of Statistics. These data moderate slightly after deducting the seasonal variables, so that the decrease in the sale of new apartments in this period stands at 11.6% compared to the previous quarter. These data are a continuation of the trend observed during the previous quarter where the decrease in the volume of sales was already evident,...

The sharp interest rate hikes are giving their signals: the total mortgages taken out in August 2022 was NIS 9.638 billion - a decrease of about 5% compared to the previous month and about 19% compared to last June (then it was NIS 11.88 billion). This is according to data from the Bank of Israel. In the background, last month the Bank of Israel announced another and sharpest interest rate increase in 20 years - 0.75%. Thus, the basic interest rate in Israel is currently 2% compared to only 0.1% about five months ago, and the prime interest rate is correspondingly 3.5%, which has boosted...

A historic record in the number of apartments whose construction began - 72,540 in the 12 months between July 2021 and June this year, 24% higher than the previous 12 months (July 2020-June 2021) in which the construction of approximately 58 thousand apartments began. The number of apartments whose construction began in the period under review is the same as the record recorded in 1995 at a time when hundreds of thousands of immigrants from the Commonwealth of Nations were absorbed into the country. According to the Central Bureau of Statistics, the number of apartments with construction...

The Ministry of Construction and Housing and the Israel Lands Authority published on Wednesday the list of the 11 localities where approximately 3,300 new apartments will be raffled to those eligible as part of the discounted housing program "Discounted Apartment". This is the third lottery of the program, which will open this Sunday, and the registration for it will close on Thursday about a week later, two days after the elections

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...

The volume of mortgages taken out by home buyers in October dropped by 21% compared to September - according to data published today (Sunday) by the Bank of Israel. The banks marketed mortgages amounting to only NIS 6.089 billion, compared to NIS 7.7 billion in September. Compared to October 2021, this is a decrease of 43%

Israel Railways canceled train traffic on Saturday night due to a "national signaling fault". The train does not know how the malfunction was caused, and claims that there is no indication of a cyber attack or damage due to the stormy weather at the weekend. There may be disruptions in train traffic in the morning as well

The Authority for Industrial Cooperation in the Ministry of Economy and Industry, after a discussion with the Hotel Association and the Ministry of Tourism, decided on a pilot that would enable mutual procurement of international companies that won government tenders, also in the field of inbound business tourism. This means that international companies committed to mutual procurement in Israel will be able to purchase hospitality services in hotels as part of business tourism: conferences, seminars, corporate vacations, exhibitions, etc. The new outline may give a significant boost to...

The fourth lottery of the "discounted apartment" program is underway: the Ministry of Construction and Housing and the Israel Lands Authority (RMI) announced that another lottery, which includes about 7,000 discounted housing units throughout the country, will open at the end of the year (Wednesday, 12.28.22) and will be closed About a week and a half later, with the beginning of the new civil year (Sunday, January 8, 23). So far this year, about 21 thousand households have won the lotteries held as part of the program, which was promoted by the outgoing Minister of Construction and Housing...