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Contractors Offer Record Financing Deals Amidst Slumping Apartment Sales
Apartment sales in Israel fell 21% in September, prompting contractors to offer financing incentives at the highest rate in 18 months. The Ministry of Finance reported 45% of free-market apartments sold in September included such benefits, a significant increase from August.
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What happened
- 01Apartment sales in Israel decreased by 21% in September compared to August.
- 02Contractors offered financing benefits on 45% of free-market apartments sold in September.
- 03The rate of financing benefits is the highest recorded in 18 months.
- 04Investor apartment purchases saw a 29% year-over-year decline in September.
- 05The Bank of Israel is reviewing new regulations for contractor financing deals.
This trend emerges as the Bank of Israel reviews new regulations for financing deals. Investor purchases dropped sharply, while first-time buyer activity remained stable.
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