New home sales and demand down

New homes Photo: Tamar Matsafi

The Central Bureau of Statistics today reported that demand for new housing dropped 12.9% in March-May.

The Central Bureau of Statistics today reported that demand for new housing dropped 12.9% in March-May, compared with December 2016-February 2017.

Demand for new housing totaled 9,780 housing units in March-May, 63% of which were sold to the general public and 37% were housing units not for sale on which construction had already begun (for use by the owners of the construction rights in the land, buyers groups, rental housing, etc.).

The number of new housing units sold was down 7.7%, while the number of housing units under construction that were not for sale plunged 20.5%.

In June 2016-May 2017, 28% of total demand for new housing was in the central district, while only 8% was in the Jerusalem district.

Published by Globes [online], Israel Business News - www.globes-online.com - on July 16, 2017

© Copyright of Globes Publisher Itonut (1983) Ltd. 2017

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New homes Photo: Tamar Matsafi
New homes Photo: Tamar Matsafi
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