11,000 new and second-hand homes were purchased in March 2016, 15% more than in the average number of purchases in January-February 2016 and 2% more than in March 2015, according to a survey published today by the Ministry of Finance chief economist.
According to a geographic breakdown, the central region stood out with an extraordinary 36% rise in the number of deals concentrated in the new housing segment, to a great extent as a result of intensive marketing of housing under the target price plan in Rosh HaAyin.
The proportion of purchases by investors in March was 20%, compared with 27% in March 2015, before the tax on investors was raised. Purchases by investors averaged 2,000 units a month in January-March 2016.
The proportion of purchasers in March buying their first apartment was 41.2%, the lowest proportion since June 2015, when purchases by investors reached a peak (before taxes were raised for investors). The only district in which the proportion of first apartment purchases rose was the central region, due to the target price plan.
Initial figures for April indicate a steep decline in the number of deals, compared with March, but an increase in comparison with April 2015. Sales of housing units from the first buyer fixed price projects on the new format began last April.
Published by Globes [online], Israel business news - www.globes-online.com - on May 29, 2016
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