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The Ministry of Finance: the Israeli housing market stagnates

According to the report published by the chief economist of the Ministry of Finance, in March 2017 in different regions of Israel were sold 8.800 housing units. It’s about the same as the previous month, but 18% lower than the same period last year.

In the primary market, the Israelis bought 2,200 apartments (1.900 minus program «Policy Le-mistaken»), which reflects a 7 percent increase compared with February. In comparison with March 2016, sales of new apartments fell by 46%, the newspaper «Globs».

The number of apartments purchased with the investment objectives in the past month remained about the same as in February – 1.500 (44% less than the previous year). The proportion of investors among home buyers made up 17%.

The situation observed in the Israeli real estate market at the moment, characterized the report as «stagnation».

— Sale, purchase and rent housing in Israel

The Ministry of Finance: the Israeli housing market stagnates 30.05.2017

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