Full coverage· Economy· Updated
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.
2 newsrooms · 1 language · since
Plus
What happened
- 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.
The coverage
2 newsrooms on this story
Who covered it
- LeftNone
- Centre1
- RightNone
- HarediNone
- ArabNone
- Other1
How it broke
See which of the 2 newsrooms broke it, and who waited
