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High Earners Also Cancel Home Purchases Amid Developer Financing Deals in Israel

How 2 Israeli newsrooms covered this story — translated into English and compared side by side.

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First reported by Globes · 1 day ago

What happened

A Ministry of Finance study shows that both low and high-income Israelis cancel home purchases, with high earners affected by developer financing schemes allowing low upfront payments and deferred costs, raising doubts about the economic viability of deals despite average apartment prices of 1.7 million shekels.

0120% of home purchase cancellations come from buyers earning about 60,000 shekels monthly.
0240% of cancellations are from households earning up to 12,000 shekels monthly, fitting expected financial struggles.
03Average canceled apartment price is around 1.7 million shekels, not excessively high.
04Economist Ben Na'im questions why high earners cancel if prices and payments are manageable.
05Developer financing schemes enabling low down payments and deferred costs may encourage cancellations.
06Cancellation costs are often low or nonexistent, reducing buyer commitment.

Summary translated & synthesized from the sources below by baba. Read each original for the full report.

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