Home sales fell in Israel in September

New homes in Rosh Ha'ayin Photo: Yossi Cohen
New homes in Rosh Ha'ayin Photo: Yossi Cohen

New homes sales fell 10% and first time buyers 4%, the Ministry of Finance Chief Economist reports.

The number of real estate deals in Israel continued to fall in September according to the latest figures published by the Ministry of Finance's Chief Economist. The survey for September found that 9,500 homes were sold in September, down 2% from the preceding month.

The Chief Economist also found that sales of new homes were down by 10% in September, to the lowest level since October 2015, while sales of second-hand homes was relatively stable. Sales to first-time buyers fell 4% in September and the proportion of homebuyers who were investors continues to be relatively low at 19%, virtually unchanged from August.

On investors, the survey said, "The central region, Rehovot and Hadera recorded the lowest proportion of purchases by investors with just 16% of deals. On the other hand, one third of purchases in Tel Aviv were investment deals although there was a significant fall in the proportion of investors compared with previously."

Published by Globes [online], Israel business news - www.globes-online.com - on November 29, 2016

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

New homes in Rosh Ha'ayin Photo: Yossi Cohen
New homes in Rosh Ha'ayin Photo: Yossi Cohen
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