Number of Israeli home buying deals slows

new apartments
new apartments

The Ministry of Finance chief economist reports that the number of deals dropped 11% in January, and was unchanged in February.

The Ministry of Finance chief economist today reported that the upswing in residential real estate deals had come to a halt in January and February. The figures show that the number of deals dropped 11% in January, and remained unchanged in February. Most of the decrease was in the Rehovot area, where dozens of housing units were put up for sale under the old format of the buyer fixed price plan.

The number of residential real estate deals in the Rehovot area was down 26% in January, compared with December 2015, and down 6% in February.

The number of deals for secondhand apartments dipped 10% in January, and inched up 3% in February. Ministry of Finance figures show that most of the increase in February was in the Haifa area, where deals mainly involved real estate investors.

The report shows a steep decline in real estate purchased for investment in the Central Region. In the early months of 2016, only 480 deals were conducted, one of the lowest figures in a decade. Almost 1,400 real estate investment deals were conducted in the Central Region in June 2015 alone.

Preliminary figures for March point to a significant rise in the number of deals, compared with February, and about the same number as in March 2015. The proportion of investment deals is about 20%.

Published by Globes [online], Israel business news - www.globes-online.com - on May 3, 2016

© Copyright of Globes Publisher Itonut (1983) Ltd. 2016

new apartments
new apartments
Twitter Facebook Linkedin RSS Newsletters גלובס Israel Business Conference 2018