Apartment Prices Decline as Contractors Slow Activity, Raise Alarm
Translated & summarized from TheMarker by baba
Apartment prices in Israel fell by 0.2% in August-September, with Tel Aviv seeing the largest drop of 0.8%. The national index is down 1.5% over the last 12 months. The Association of Contractors and Builders warns that the housing market slowdown is causing new projects to be delayed or canceled.
The story in 5 lines · by baba
- Apartment prices in Israel fell 0.2% in August-September, with Tel Aviv prices down 0.8%.
- The national apartment index has decreased by 1.5% over the past 12 months.
- The Haifa region saw a price increase of 0.8% during August-September.
- The Association of Contractors and Builders is concerned about project delays and cancellations.
- The slowdown indicates a halt to previous years' price increases.
Apartment prices in Israel continued their downward trend in August-September, with the sharpest drops recorded in the Tel Aviv area, where prices fell by 0.8%. Southern Israel saw a 0.6% decrease, while the Haifa region experienced a price increase of 0.8%. The national index for August-September decreased by 0.2%, following a 0.7% drop in July-August. Over the past 12 months, the apartment index has fallen by 1.5%, indicating a slowdown in the price increases seen in previous years, though the national average price has not seen a significant decline.
The Association of Contractors and Builders is warning that the slowdown in the housing market is leading to the postponement and cancellation of new projects.
