Four-Room Apartment in Jerusalem Sells for Over 5 Million Shekels Amid Housing Market Decline

The annual housing price index published by the Central Bureau of Statistics (CBS) about three weeks ago showed a 2% decline, marking the sharpest drop in eight years. Additionally, the consumer price index for June lowered the annual inflation rate to 1.6%, after previously remaining unchanged. To provide insight into the current housing market, national real estate agencies examined recent second-hand apartment sales across various Israeli cities.

In Beersheba, a range of apartments sold last week included a 3-room unit on Bialik Street for 1.05 million shekels and a 5-room apartment in the Ramot neighborhood for 2.16 million shekels. Ashdod saw a 4-room apartment on HaShayitim Street sell for 1.74 million shekels, while in Jerusalem, a 2-room apartment in Old Katamon sold for 3.1 million shekels, and notably, a 4-room apartment on Rabbi Halfeta Street in the same neighborhood fetched 5.225 million shekels.

Other cities also recorded significant sales: in Ramla, a 5-room apartment on Moshe Levi Street sold for 2.7 million shekels; in Lod, a 2-room apartment in the Governmental neighborhood sold for 1.15 million shekels; in Netanya, 3- and 4-room apartments in the city center sold between 1.61 and 1.69 million shekels; and in Haifa, 3- to 5-room apartments sold for prices ranging from 1.06 to 1.8 million shekels.

These transactions reflect varied pricing across Israel's housing market amid a recent overall price decline. The data was compiled with the participation of the Re/Max and Anglo-Saxon real estate networks.