Israeli Housing Market Sees Slight Price Rise Amidst Stagnant Sales

Israel's housing market experienced a minor increase of 0.2% in the Central Bureau of Statistics' housing price index for June-July, compared to the previous two-month period. However, a new quarterly index for second-hand apartments revealed a 1.2% decrease in prices during the second quarter of the year. This data emerges amidst a significant slowdown in real estate transactions, as noted by the Ministry of Finance's chief economist.

Despite the overall market conditions, recent second-hand apartment sales across various cities highlight diverse price points. In Be'er Sheva, a 3-room apartment of 80 sqm sold for 570,000 shekels, a 4-room apartment of 72 sqm for 700,000 shekels, and a larger 4-room apartment with modern amenities for 1.35 million shekels.

Further north, in Haifa, a compact 2-room apartment measuring 38 sqm was sold for 550,000 shekels. In Holon, a 3-room apartment of 75 sqm fetched 1.69 million shekels, while a 5-room penthouse with extensive outdoor space and parking sold for 2.915 million shekels.

Tel Aviv saw a 3-room apartment of 65 sqm sold for 1.75 million shekels. A duplex penthouse with 5 rooms, spanning 116 sqm across two floors and including a large balcony, elevator, and parking, was sold for 3.17 million shekels.