Where are real estate prices going in Israel? The housing price index rose by 1.4% and in Tel Aviv by 1.9%. The rate of increase is almost 20% per year in Tel Aviv. So even though most of us did not like Engineer Ginsburg’s scenario, anything is possible in 3 years:
The construction input index rose by 0.6% last month – enter the construction input index calculator here. What is amazing about the rate of increase in the price of apartments is that it comes with a slowdown in the number of apartments sold. According to the Central Bureau of Statistics, there has been a decline in the number of transactions since August last year, but this is not a sign of a cooling.
This week, an indictment was filed against one of the well-known contractors in Israel, Yigal Damari, for coordinating prices in the price per occupant program. Why the hell do contractors who still benefit from rising prices get involved in crime? The “clean” profits are not enough for them, or perhaps it is an age-old method that is only now being revealed.
The contractors of course warn and anticipate that apartment prices will continue to rise at a high rate, (obviously they will say so. Imagine they say they anticipate a decline? It will hurt the housing market …) It will be interesting to follow and see in a few years if their horror prophecies come true. . Their predictions in recent years have been correct.
Meanwhile, contractors are facing a new threat – rising interest rates. The increase makes it difficult for real estate developers to buy new land. And this week – former chairman of the Chamber of Real Estate Appraisers, Ohad Danos, attacks the current Minister of Construction and Housing and says that Zeev Elkin: “He is the worst minister in the field”?
In the meantime, here are real estate deals from the past week:
Jerusalem
3-room apartment, Halish Street, Gilo neighborhood, 63 sq.m., 4th of 4 floors, sold for NIS 1,690,000
5-room cottage, Zeitlin Street, Ramat Danya neighborhood, 141 sq.m., ground floor, warehouse, parking, sold for NIS 4,200,000
Ramat Gan
4-room apartment, Bat Shua Street, 96 sq.m., 4th of 6th floor, parking, elevator, sold for NIS 2,450,000
4-room apartment, Yohanan Bader Street, 107 sq.m., 13th of 19th floor, parking, elevator, sold for NIS 3,270,000
3-room apartment, Jabotinsky Street, 93 sq.m., 13th of 29th floor, parking, elevator, sold for NIS 3,300,000
4-room apartment, Sderot HaTzanhanim Street, 84 sq.m., 3rd of 7th floor, parking, elevator, sold for NIS 2,740,000
4-room apartment, Melal Street, 107 sq.m., 2nd of 2 floors, sold for NIS 2,730,000
Holon
3.5 room apartment, Eilat Street, 75 sq.m., ground floor out of 4, elevator, sold for NIS 1,750,000
3.5 room apartment, Rabbi Levy Street, 87 sq.m., 3rd of 8th floor, elevator, sold for NIS 1,900,000
3-room apartment, Israeli Street Ben Zion, 75 sq.m., 3rd of 3 floors, sold for NIS 1,760,000
Bat Yam
3-room apartment, Ben Zion Israel Street, 90 sq.m., 1st of 4 floors, elevator, sold for NIS 1,780,000
5-room garden apartment, Paratroopers Street, 143 sq.m., 60 sq.m. garden, ground floor out of 2, sold for NIS 1,900,000
Streets
A 4-room apartment on Aharoni Street in the north of the city, 96 sq.m., 3rd floor, no elevator, no parking, sold for NIS 1,960,000
5 room apartment on Wilkomitz Street, 127 sqm + 12 sqm sun terrace, 3rd floor, with elevator and parking, sold for NIS 2,870,000
A 5-room apartment on Bustanai Street in the north of the city, 115 sq.m., 6th floor, with elevator and parking, sold for NIS 2,250,000
3 room apartment on Shai Street, 76 sqm + 12 sqm sun terrace, with parking and storage, sold for NIS 2,100,000
Ashdod
4-room apartment, Nahal Snir Street, 11th District, 101 sq.m., 4 sq.m. balcony, 4th of 7th floor, elevator, sold for NIS 1,940,000
3-room apartment, Eilat Street, 1st District, 62 Sqm, 1st floor out of 4, sold for NIS 1,350,000
4-room garden apartment, Sderot Rehovot Street, 9th District, 114 sq.m., 40 sq.m. garden, ground floor out of 3, parking, sold for NIS 2,150,000
Beer Sheva
3-room apartment, on the Sanhedrin Street, 75 sq.m., 1st of 3 floors, no elevator, no parking, sold for NIS 510,000
4-room apartment, on Simcha Erlich Street, 100 sq.m., 5th of 8th floor, with elevator, no parking, sold for NIS 870,000
4-room garden apartment, Ein Gedi Street, T. neighborhood, 120 sq.m., 55 sq.m. garden, ground floor out of 3, parking, sold for NIS 1,350,000
4-room apartment, Michael Hazani Street, 11th neighborhood, 94 sq.m., 2nd of 3 floors, sold for NIS 859,000
3-room apartment, Niv David Street, Neve Zeev neighborhood, 102 sq.m., 18 sq.m. balcony, 2nd of 11 floors, parking, elevator, sold for NIS 1,140,000
4-room apartment, Sha’ar HaGai Street, T-neighborhood, 109 sq.m., 8th of 8th floor, parking, elevator, sold for NIS 830,000
Pardes Hanna
5.5 room cottage, on Derech HaBanim Street in the center of Karkur, 170 sq.m. on a 280 sq.m. plot, 2 parking spaces, sold for NIS 3.68 million
6-room two-family cottage, on Snir Street in the Hatzrot Karkur neighborhood, 156 sq.m. on a 250 sq.m. plot, 2 parking spaces, warehouse, room with separate entrance (can be used as an office / clinic) Sold for NIS 3,770,000 million
Netanya
3-room apartment on King Saul Street, 91 sq.m., 4th of 6th floor, with parking and elevator, near the promenade, sold for NIS 1.83 million
earing
4-room apartment, Savyon Street, 103 sq.m., 12 sq.m. balcony, ground floor out of 5, parking, elevator, sold for NIS 1,540,000
4-room apartment, Kalanit Street, 102 sq.m., 18 sq.m. balcony, 1st floor out of 7, parking, elevator, sold for NIS 1,520,000
Migdal Haemek
A 5-room apartment on Hasharon Street in the Rabin neighborhood, 147 sq.m. + 14 sq.m. balcony, 8 sq.m. warehouse, 2nd of 6 floors, with parking and an elevator, sold for NIS 1.52 million.
A 4-room apartment on Arava Street in the Yaarat HaEmek neighborhood, 116 sq.m. + 14 sq.m. balcony + 4 sq.m. warehouse, 5th of 6th floor, with parking and an elevator, sold for NIS 1.2 million.
A 4-room apartment on 5733 Street in the Sapir neighborhood, 80 sq.m., 2nd of 3 floors, sold for NIS 690,000
A 3-room apartment on Nitzanim Street in the Sapir neighborhood, 77 sq.m., 3rd of 3 floors, without elevator and parking, sold for NIS 540,000.
The data were collected from Remix, Anglo Saxon, ‘Dior Plus’ and data from the Tax Authority.