Classified ads site Winwin reports that the average rent for a three-room apartment in Tel Aviv rose by 3%, compared with April, to NIS 4,450 a month. The rise suggests that the recovery in rental price, which began in April, is beginning to strengthen.
According to Winwin, the average rent for a three-room apartment in Tel Aviv was NIS 4,800 in December 2008, and fell 12.5% to NIS 4,200 by March. Nearly half that drop has now been recouped.
The average rent for a two-room apartment in south Tel Aviv was unchanged in April at NIS 2,650, while the average rent for a three-room apartment in the area rose by 2.2% to NIS 3,270.
The average rent for a three-room apartment in north Tel Aviv rose by 6% in May to NIS 5,050, after falling by 1% in April. The average rent for a two-room apartment in north Tel Aviv rose by 4.2% in May to NIS 3,650.
The average rent for a three-room apartment in Jerusalem rose by 1.8% in May to NIS 3,340, and the average rent for a two-room apartment in the city rose by 2.2% to NIS 2,800.
The average rent for a three-room apartment in Haifa rose by 4.8% to NIS 2,100 and the average rent for a two-room apartment in the city rose by 3.4% to NIS 1,600.
The average rent for both a two-room and three-room apartment in Beersheva was unchanged at NIS 1,400 and NIS 1,780, respectively.
Published by Globes [online], Israel business news - www.globes-online.com - on June 2, 2009
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