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The Ministry of Finance report: home sales in the primary market decline, the secondary – grow

According to the quarterly report on the housing market published by the chief economist of the Ministry of Finance, in the first quarter of 2017 in Israel was sold 27.500 apartments. This is 8% less than in the same period of 2016, but 13% more than in the fourth quarter of last year.

Sales in the secondary housing market in comparison with the previous quarter increased by 19%, whereas primary – decreased by 2%, the newspaper «Globs».

As noted in the report, the proportion of apartments purchased for investment purposes, amounted to 16.8%.

At the same time recorded a significant increase in the number of apartments sold by investors. In January-March the figure reached 7.100 apartments – 27% more than in the last quarter of 2016. The share of sales of investors in the secondary market reached 34%.

— Sale, purchase and rent housing in Israel

The Ministry of Finance report: home sales in the primary market decline, the secondary – grow 08.06.2017

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