The decline in demand for new apartments continues: according to the data of the Central Bureau of Statistics, the requested amount of new apartments in Israel in the last three months was about 11,390 apartments, but the total number of new apartments purchased in the months of August, September and October were 65.4% of the requested amount, and stood at about 7,450 apartments.
About a quarter of all the new apartments sold are concentrated in the cities of: Jerusalem, Kiryat Gat, Netanya, Ashkelon and Tel Aviv-Yafo. 19% of the total apartments sold were purchased with a government subsidy. In addition, out of about 3,940 new apartments not for sale – 34.6% of the quantity requested, 82.8% are built as part of self-construction and “build your own home”, and of this 41.1% in the northern district. 7.5% of the apartments are built for rental purposes.
Compared to the previous three months (May-July 2022), the requested amount of new apartments in the last three months (August-October 2022) decreased by 26.3%.