Housing prices in Israel continue to rise. According to preliminary, unofficial statistics from a Central Bureau of Statistics survey, home prices rose 2.2% in October. This followed a rise of 1.5% in September, and 2.4% in August. Final figures will only be released in coming months.
CBS data shows that since the beginning of the year home prices have jumped 15%. Since May of 2007, when a trend of prices rises began, home prices have risen 32.2%.
October was the tenth consecutive month of higher home prices. The last time prices fell was November-December of 2008, when the economic crisis was reaching its peak.
The Ministry of Housing and Construction, led by Minister Ariel Atias, has taken on the task of battling house price rises, and plans to flood the market with new plots of land in order to lower prices.
Published by Globes [online], Israel business news - www.globes-online.com - on December 16, 2009
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