Real Estate

Data published by the Central Bureau of Statistics (CBS) indicate that last May 2,180 new apartments were sold, although an increase of 46.8% compared to the low in April 2023 that resulted from the Passover holiday, but excluding seasonality this figure is about 2,230 apartments, a decrease of 7.6% compared to the previous month. Compared to April last year, this is a decrease of a little less than 50%, since the number of new apartments sold this month was about 4,000. The CBS states that an examination of the trend data shows that from August 2021 to May 2023, there was a decrease of...

In response to the growing trend of "mortgage recycling" and the challenges customers face when refinancing at the same bank, the Bank of Israel has announced a new regulation aimed at simplifying and expediting the process. This groundbreaking directive, set to take effect next year, seeks to revolutionize the mortgage consulting field and alleviate the frustrations faced by borrowers

Central Bureau of Statistics (CBS) has reported a significant downward trend in new apartment construction starts in Israel. The latest data reveals a stark decline, with only 13,290 new apartments commencing construction during the second quarter of this year

Rublic transportation in Israel is set to operate in an emergency mode over the upcoming weekend, with limited details available, as confirmed by the Ministry of Transportation. Last week, the Ministry announced a limited schedule for the weekend just hours before services began. It is expected that the public transportation services for this Friday and Saturday will resemble the ones provided last weekend, where certain bus lines extended their hours until 10:00 p.m. on Fridays and began operations at 6:00 a.m. on Saturdays

In response to the severe shortage of over 75,000 Palestinian workers in the Israeli construction industry, the government has swiftly approved an increase in foreign worker quotas from 30,000 to 50,000. This decision was made through an urgent telephone referendum, with the additional workforce being allocated in four increments of 5,000 foreign workers each, contingent on the actual staffing needs of each increment

In a crucial move to finance ongoing military operations, Finance Minister Bezalel Smotrich has announced the addition of NIS 13.5 billion to the 2023 budget. The decision, revealed in a letter to the Ministry of Finance, outlines a strategy to redirect a portion of coalition funds to support the war effort

The latest data from the Central Bureau of Statistics underscores the severe challenges faced by the real estate sector, pointing to a historic low in new apartment sales. In October, amidst the outbreak of war, a mere 930 new apartments were sold, with only 89 benefiting from government housing programs and discounted rates per resident

In a recent report from the Chief Economist Division at the Ministry of Finance, November 2023 witnessed a partial rebound in housing market activity compared to the previous month. However, the numbers remain alarmingly low, marking the lowest level of transactions recorded in November over the past two decades

After a prolonged period of stagnation, apartment prices in Israel saw a notable uptick towards the end of 2023, marking the first increase in ten months. According to the latest data from the Central Bureau of Statistics (CBS), the housing price index revealed a 0.7% rise in apartment prices during the months of November and December 2023 compared to the previous two months

In a recent review published by the Division of the Chief Economist in the Ministry of Finance, the residential real estate market in January 2024 displayed significant signs of recovery, particularly in the segment of new apartments