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Israel's Housing Market Sees 24-Year Low in August Sales Amidst Cooling Demand
Israel's housing market saw its lowest August sales in 24 years, with 7,532 apartments sold in total, a slight decrease from July and the previous year. Excluding subsidized housing, free market sales dropped 5% to 6,242 units.
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What happened
- 01Israel's housing market recorded its lowest August sales in 24 years, totaling 7,532 apartments.
- 02Free market transactions fell 5% to 6,242 units, excluding subsidized government housing.
- 03Contractors offered financing incentives in 30% of free market sales across five major regions.
- 04First-time homebuyers were the only buyer group to increase their purchases in August.
- 05The second-hand housing market experienced a significant slowdown, with a 12% drop in sales from July.
Contractors are increasingly offering financing incentives, with 30% of sales in key regions reporting benefits. First-time homebuyers were the only group to increase purchases, while demand from upgraders and investors declined.
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