Nationwide sales of new housing units by contractors remained steady in February, compared with the preceding month, but were noticeably higher than in February 2014, according to figures published today by the Central Bureau of Statistics in its weekly review of new housing unit sales and demand.
According to the figures, 2,608 new housing units were sold in February, compared with 2,633 in January, a negligible drop of less than 1%. At the same time, it should be noted that this is still a historic peak, following a burst of demand after the 0% VAT program was shelved.
When February is compared with the same month last year, however, a different picture emerges: new housing unit sales jumped 22%, compared with 2,132 units sold in February 2014. A review of the figures shows that sales of new housing units by contractors in January-February 2015 were the highest in recent years.
Then- Minister of Finance Yair Lapid announced a 0% VAT plan in March 2014, leading to a sharp decrease in the number of new housing units sold that lasted almost to the end of the year, when the program was shelved, Lapid was dismissed, and elections were subsequently held. Starting in November 2014, the number of new housing units sold jumped to over 2,000 per month.
Published by Globes [online], Israel business news - www.globes-online.com - on April 15, 2015
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