Chief economist of the Ministry of Finance published a report on Israeli residential real estate market for July 2017.
According to the report, the stagnation in the housing market continues, the volume of transactions amounted to 8.8 per thousand, which is 9% lower than a year earlier. It is also one of the lowest July figures for the last ten years. In comparison with June of the current year decline is 6%, the press service of the Ministry of Finance.
In the primary market in July, has been sold 2,5 thousand apartments. Except for the apartment program «Policy Le-Mistaken», the number of purchased homes was in July of 2,000, which is 8% more than in June and 21% fewer than in July 2016.
As noted by chief economist of the Ministry of Finance, the decline in sales of new apartments continues uninterrupted from October of last year, and we are talking about a drop from 20% to 50% per month compared to the same month a year earlier.
Investors during the reporting period, was acquired 1.7 thousand of apartments, which is 5% more than in the previous month and 13% less than in July 2016.
4.2 thousand apartments were purchased in July, those for whom it is the first own apartment. Families, improving their living conditions, acquired 3,000 apartments, which is 11% less than in June of the current year, and 22% less than in July last year.
— Sale, purchase and rent housing in Israel