Apartments (photo pexels)
A particularly sharp decline with regard to second-hand transactions, according to a survey of the residential real estate industry of the Chief Economist’s Division of the Ministry of Finance. 2020 and a sharp decline of 38% compared to the high level recorded last November.
In a geographical segmentation, it was found that the sharp decrease in the number of transactions compared to November encompassed all areas, with the rate of change ranging from a decrease of 27% in the Hadera area to a decrease of 53% in the Tel Aviv area. Against the background of this sharp decline in second-hand transactions in the Tel Aviv area, it was noted that this area also recorded the sharpest increase in transactions in November.
Compared to December 2020, the BS area stands out with a 5% increase in the number of transactions in second-hand apartments (compared with a 11% decrease at the national level), with this finding largely explained by the most moderate (though sharp) decline in investor purchases, among all The areas.
Moreover, contractors’ sales in December totaled 4.6 thousand apartments, a decrease of 15% compared to December 2020 and a sharp decrease of 31% compared to last November. After deducting sales as part of the “price per occupant”, contractors’ sales in the free market in December amounted to 3.1 thousand apartments, a decrease of 18% compared to December 2020 and a sharp decrease of 44% compared to the previous month.
More in-
In an annual summary, contractors’ sales in 2021 totaled 55,500 new apartments, a sharp increase of 41% compared to 2020 and a historic record level in these sales. After deducting sales as part of the “price per occupant”, the contractors’ sales in the free market in 2021 amounted to 41,000 apartments, an increase of 61% compared to 2020.
In the geographical segmentation of contractors’ sales in the free market in December, the central and BS areas stand out, with sales of 500 apartments in each, while in the BS area this is an increase of 2% compared to December 2020, although similar to the other areas in this area. Sharp compared to the high level of sales last November. The Jerusalem and Tel Aviv areas stand out with sharp declines from the national average.
The contractors’ potential cash flow from the sale of new apartments (including “price per occupant”) in December was NIS 8.8 billion, a real decrease of 13% compared to December last year. Compared to the record level recorded last November this is a sharp decline of 41%. However, in an annual summary, the financial volume of contractors’ sales in 2021 amounted to NIS 117 billion, a real increase of 61%.
Comments on the article(0):
Your response has been received and will be published subject to system policies.
Thanks.
For a new response
Your response was not sent due to a communication problem, please try again.
Return to comment