Housing prices continue to rise, but at slower pace. The Central Bureau of Statistics reports that the average price of an apartment was NIS 958,000 in the first quarter of 2010, 2% higher than in the fourth quarter of 2009. Over the past year, prices rose 16%.
The average price of an apartment rose 4% from the third quarter to NIS 938,000 in the fourth quarter.
The average price of an apartment in Tel Aviv jumped 32% over the preceding year to NIS 1.7 million in the first quarter. The most expensive apartments in Israel are 4.5 and five-room apartments in Tel Aviv, which cost an average of NIS 2.9 million in the first quarter.
The average price of an apartment in Jerusalem rose 17% over the preceding year to NIS 1.33 million in the first quarter.
The average price of an apartment in Haifa rose 10% to NIS 648,000 in the first quarter from NIS 587,000 in the preceding quarter.
Published by Globes [online], Israel business news - www.globes-online.com - on May 17, 2010
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