Israeli Housing Market Shows Stability Amidst Transaction Slowdown

Israel's housing market is demonstrating continued price stability, following a minor 0.1% increase in the Central Bureau of Statistics' housing price index for May-June compared to April-May. Analysts anticipate this stability will persist, with the June-July index expected to be released soon. Despite a general slowdown in real estate transactions, specific cities have seen notable activity.

Recent second-hand apartment sales data, compiled with assistance from national brokerage networks and the Ministry of Finance's chief economist, highlights transactions across various locations. In Be'er Sheva, a 93 sqm, 4-room apartment on Shazar Jerusalem street sold for 920,000 shekels, while another 116 sqm, 4-room unit on Eshkolit street in Ramot fetched 1.42 million shekels. A larger 143 sqm, 4-room apartment on Dafna street in Sigalim sold for 1.5075 million shekels.

Further south, in Kiryat Gat, a 75 sqm, 3-room apartment on Shazar Gat street was sold for 1.16 million shekels. Bat Yam saw a 60 sqm, 3-room apartment on Ma'avar Yishai street sell for 1.65 million shekels, a 70 sqm unit on Rav Levi street for 1.85 million shekels, and a 70 sqm apartment on Frigata street for 2.9 million shekels.

In the central region, a 118 sqm, 4-room apartment on Jabotinsky street in Ramat Gan was sold for 4.38 million shekels. Notably, a 160 sqm, 5-room cottage in Pardes Hanna-Karkur on HaMazmor street sold for 3.775 million shekels.

In the northern city of Tiberias, a 77 sqm, 3-room apartment on David HaMelech street sold for 845,000 shekels. In the newer city of Harish, a 96 sqm, 4-room apartment on Narkis street sold for 1.35 million shekels, and a 97 sqm, 4-room unit on Tamar street sold for 1.53 million shekels. The data was compiled with input from RE/MAX Angello Saxson.