Israeli Housing Market Sees Slight Price Rise Amidst Transaction Slowdown

Israel's housing price index registered a modest 0.2% increase in June-July compared to May-June, according to the latest data from the Central Bureau of Statistics (CBS). However, a separate report on quarterly prices for second-hand apartments revealed a 1.2% decrease in the second quarter of the year. Rental prices dipped in August but remain higher than the previous year. Amidst a significant slowdown in real estate transactions, a review of recent second-hand apartment sales across the country highlights market activity.

In Be'er Sheva, a 2-room apartment on Bialik Street in Neighborhood A, measuring 39 square meters, sold for 680,000 shekels. A 3-room apartment on Steinberg Street in the new Neighborhood V, spanning 77 square meters, was sold for 1.055 million shekels. A larger 5-room apartment on Nachal Kidron Street in the Park neighborhood, with 160 square meters, a 15-square-meter balcony, parking, and a safe room (Mamad), fetched 1.6 million shekels.

Further north, in Kiryat Gat, a 4-room apartment on Nachal Govrin Street (90 sqm) sold for 1.85 million shekels, and a 4.5-room apartment on Malchei Israel Boulevard (102 sqm) was sold for 1.64 million shekels.

Modi'in saw higher prices, with a 5-room apartment on Yigal Yadin Street (136 sqm) selling for 3.46 million shekels. Another 5-room apartment on Ya'ar Yerushalayim Street (116 sqm) with a garden sold for 3.916 million shekels. Additionally, a 4-room apartment on Levi Eshkol Street (106 sqm) was sold for 3.275 million shekels, and a 4-room apartment on Ephroni Street (125 sqm) on a high floor sold for 3.75 million shekels.

In the newer city of Harish, a 4-room apartment on Sapir Street (94 sqm) was sold for 1.27 million shekels. Pardes Hanna-Karkur recorded a penthouse sale of a 5-room apartment (160 sqm) for 3.435 million shekels. In Haifa, a 5-room penthouse on Aryeh Kroch Street (125 sqm) sold for 3.2 million shekels. These transactions were facilitated by real estate networks like RE/MAX and Anglo-Saxon.