Apartment Prices Drop 10% as Investors Sell at Deep Discounts
Translated & summarized from TheMarker by baba
Apartment prices in Israel have fallen by an average of 10%, with a recent sale in Holon showing a NIS 160,000 price reduction. The transaction involved heirs selling a four-room apartment to a family buying their first home. While some deals close quickly due to seller flexibility, other properties are taking up to a year to sell.
The story in 5 lines · by baba
- Apartment prices have dropped by 10% across Israel.
- A Holon apartment sold for NIS 1.94 million after a NIS 160,000 price cut.
- The Holon sale involved heirs selling to a family purchasing their first home.
- Some apartments are now taking up to a year to sell.
- Sellers are willing to compromise to finalize deals.
A four-room apartment in Holon was recently sold for NIS 1.94 million, after buyers negotiated a NIS 160,000 reduction from the original asking price. The transaction, located on the corner of Tzfat and Givat HaTachmoshet streets, involved a first-floor, 100-square-meter apartment in a five-story building with an elevator and adjacent parking. The sellers were three heirs, who sold the property to a Haredi family with five children. The buyers, who previously lived in a rented 2.5-room apartment, purchased their first home.
According to the real estate agent, the deal was finalized quickly because the sellers were willing to compromise. However, some apartments are reportedly taking as long as a year to sell, indicating a broader market trend.
