The national average apartment price fell 2% in the first quarter from the preceding quarter.
17% fewer apartments were bought in Tel Aviv during the first quarter of 2010 compared with the preceding quarter, the Ministry of Finance reported today.
Price trends were mixed from the fourth quarter through the first quarter. The national average apartment price fell 2% over the same period. The average apartment price fell by 7% in Jerusalem, by 5% in Haifa, and by 2% in the Sharon. However, the average apartment rose by 7% in the Central District, by 4% in Beersheva, and by 2% in Rehovot.
The average national apartment price was 17% higher in the first quarter than in the corresponding quarter of 2009. Price was up 13% in Tel Aviv, 12% in Jerusalem, 8% in the Central District, 16% in the Sharon, 30% in Rehovot, and 33% in Beersheva.
Published by Globes [online], Israel business news - www.globes-online.com - on May 25, 2010
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