The average price of four-room apartments rose 12.3% in the first quarter of 2011 compared with the corresponding quarter of 2010, and by 2.5% compared with the preceding quarter, according to outgoing Government Assessor Eyal Yitzhaki.
The Government Assessor examines prices of four-room apartments, the most common type of apartment, in 15 cities nationwide. The average price for a four-room apartment in the first quarter ranged from NIS 2.26 million in Tel Aviv to NIS 606,000 in Beersheva.
After Tel Aviv, the highest average price was NIS 1.64 million in Herzliya, NIS 1.54 million in Jerusalem, NIS 1.27 million in Petah Tikva, and NIS 1.25 million in Rishon LeZion.
The largest increase in the average price for a four-room apartment between the first quarter of 2010 and the first quarter of 2011 was in Haifa, at 25%, followed by a 20% increase in Beersheva.
Published by Globes [online], Israel business news - www.globes-online.com - on May 11, 2011
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