Housing prices in Israel break new records

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 Housing prices in Israel break new records

House prices in Israel continue to break records, up 15.9% year-over-year despite a recent slowdown in purchases, the Central Bureau of Statistics said Friday.

For the month from April 2022 to May 2022, apartments have risen in price by an average of 1.4% compared to the previous month. This figure includes both new buildings and the secondary housing market.

Compared to the same period last year, prices rose by almost 16%, which is the highest annual increase in house prices in a decade.

In Tel Aviv, the price increase made the biggest jump over the past three months and amounted to 1.9%. Even on the outskirts of the city, prices rose by 1.4% in the north and 1.2% in the south.

housing prices, which is partly holding back prices for new builds, which accounted for 28.5% of sales from April to May this year compared to 25.7% from March to April 2022.

an increase in house prices will also cause a corresponding increase in rents, and as a result, an increase in the cost of living. The high cost of living, including housing prices, is likely to be a key influence in the upcoming November elections.

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