Israeli Housing Prices Decline for First Time in a Year
Translated & summarized from Vesty by baba
Israeli housing prices have decreased by 0.6% in July-August, marking the first annual drop of 1.8%. New apartment prices also fell by 0.4%. Recent transactions show significant price variations across cities, with a 3-room apartment in Be'er Sheva selling for 600,000 shekels and a private home in Holon for 5.355 million shekels. Lower prices were noted in northern cities like Nahariya and Acre.
The story in 5 lines · by baba
- Israeli housing prices fell 0.6% in July-August and 1.8% year-over-year.
- New apartment prices saw a 0.4% decrease.
- A 3-room apartment in Be'er Sheva sold for 600,000 shekels.
- A private home in Holon was sold for 5.355 million shekels.
- Apartments in northern cities like Nahariya sold for under 1 million shekels.
Housing prices in Israel have begun to fall, with the Central Bureau of Statistics reporting a 0.6% decrease in apartment costs during July-August compared to the previous two-month period. This marks the first annual decline, with prices dropping 1.8% year-over-year. The cost of new apartments also saw a slight reduction of 0.4%.
Data compiled by "Calcalist" from real estate agencies "Re/Max" and "Anglo-Saxon" on mid-October transactions reveals varying price points across different cities. In Be'er Sheva, a 3-room apartment of 76 square meters sold for 600,000 shekels, while a 4-room apartment of 83 square meters fetched 1.19 million shekels.
Further south, in Kiryat Gat, a 90-square-meter, 4-room apartment sold for 1.7 million shekels, and another of the same size for 1.8 million shekels. Ashdod saw a 128-square-meter, 4-room apartment sell for 2.14 million shekels.
In Rehovot, prices ranged from 2.5 million shekels for a 106-square-meter, 4-room apartment to 3.6 million shekels for a 125-square-meter, 5-room apartment with additional amenities. Ramle recorded a sale of a 50-square-meter, 2-room apartment for 1.25 million shekels.
Other transactions included a 130-square-meter, 5-room apartment in Shoham for 3.7 million shekels, a 100-square-meter, 4-room apartment in Holon for 2.45 million shekels, and a large private home in Holon for 5.355 million shekels. Netanya had a 139-square-meter, 5-room apartment sold for 3.4 million shekels. In Haifa, prices varied from 1.645 million shekels for a 98-square-meter, 4-room apartment to 1.8 million shekels for a 95-square-meter, 4.5-room apartment.
Lower price points were observed in the north, with a 55-square-meter, 2.5-room apartment in Nahariya selling for 625,000 shekels, a 70-square-meter, 3-room apartment in Acre for 810,000 shekels, and a 74-square-meter, 3-room apartment in Karmiel for 830,000 shekels.
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