Full coverage · Economy · Updated 23 Aug, 15:00
High Earners Also Cancel Home Purchases Amid Developer Financing Deals in Israel 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.
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What happened 01 20% of home purchase cancellations come from buyers earning about 60,000 shekels monthly. 02 40% of cancellations are from households earning up to 12,000 shekels monthly, fitting expected financial struggles. 03 Average canceled apartment price is around 1.7 million shekels, not excessively high. 04 Economist Ben Na'im questions why high earners cancel if prices and payments are manageable. 05 Developer financing schemes enabling low down payments and deferred costs may encourage cancellations. 06 Cancellation costs are often low or nonexistent, reducing buyer commitment. Translated and summarized by baba from Maariv , the latest report. Read Maariv’s original The coverage
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