Israeli Housing Prices Decline, Secondhand Market Activity Revealed
Translated & summarized from Ynet by baba
Israel's housing prices dropped 0.6% in July-August, marking the first annual decrease of 1.8%. New apartment prices also fell by 0.4%. A review of recent secondhand sales shows a 4-room penthouse in Shoham sold for 3.8 million shekels. Other apartments sold for prices ranging from 770,000 shekels in Be'er Sheva to 2.66 million shekels in Be'er Yaakov.
The story in 6 lines · by baba
- Israeli housing prices decreased by 0.6% in July-August, showing the first annual drop of 1.8%.
- New apartment prices also declined by 0.4% according to the latest CBS index.
- A 136 sqm, 4-room penthouse with an 80 sqm balcony in Shoham sold for 3.8 million shekels.
- A 3-room apartment in Be'er Sheva was sold for 770,000 shekels.
- The real estate market is experiencing a deep freeze in transactions.
- The data covers secondhand apartment sales across several Israeli cities.
Israel's housing prices saw a decrease of 0.6% in July-August compared to the previous two months, according to the latest Central Bureau of Statistics (CBS) housing price index. This marks the first time the index has shown an annual decline, dropping by 1.8%, while prices for new apartments fell by 0.4%. Amidst a significant slowdown in real estate transactions, a review of secondhand apartment sales in the past week highlights market activity across various cities. In Be'er Sheva, a 71 sqm, 3-room apartment sold for 770,000 shekels, and a 89 sqm, 4-room apartment went for 1.08 million shekels. Shoham featured a 136 sqm, 4-room penthouse with an 80 sqm balcony sold for 3.8 million shekels. Other sales included a 104 sqm, 4-room apartment in Be'er Yaakov for 2.66 million shekels, a 60 sqm, 3-room apartment in Lod for 1.27 million shekels, and an 86 sqm, 3-room apartment in Ramla for 1.87 million shekels. In Afula, a 130 sqm, 4-room apartment was sold for 1.53 million shekels, and a 72 sqm, 3-room apartment in Acre sold for 880,000 shekels. These transactions were analyzed with the assistance of national real estate brokerage networks.
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