October rentals present mixed picture

Rents for three-room apartments in central Tel Aviv rose to their December 2008 levels, but elsewhere there were declines.

While October's data present a mixed general picture of rents, rents for three-room apartments in central Tel Aviv rose again, for the fourth successive month.

According to the index produced by classifieds website WinWin, the cost of renting such an apartment rose by a further 4.2% in October, to NIS 4,850 monthly. This completes a 15% rise since the beginning of July, and brings the level of rents in this segment back to where it was in December 2008.

The general picture is, as mentioned, mixed, with declines predominating. Rents for two-room apartments in central Tel Aviv, for example, fell 5% to NIS 3,760 monthly. The monthly rent for two-room apartments in the north of the city rose 2.6%, to NIS 3,970, while the average rent for three-room apartments in this part of town fell 4.6%, to NIS 4,730.

In the other large cities, rents were unchanged in October for most kinds of apartments. In Jerusalem, two-room apartments remained at NIS 2,890 monthly, but rents for three-room apartments rose 3% to NIS 3,350.

In Haifa, prices were unchanged. Two-room apartments went for NIS 1,750 monthly, and three-room apartments for NIS 2,190.

In Beersheva, the average rent for a two-room apartment fell 3.2%, to NIS 1,530, while for three-room apartments the average rent remained at NIS 1,950.

Published by Globes [online], Israel business news - www.globes-online.com - on November 2, 2009

© Copyright of Globes Publisher Itonut (1983) Ltd. 2009

Twitter Facebook Linkedin RSS Newsletters גלובס Israel Business Conference 2018