Last September, about 8,000 apartments were purchased in Israel. This is a significantly lower amount than that which characterized the real estate market in previous months in 2021. The explanation for this may lie in the small number of working days due to the Tishrei holidays that were concentrated in that month.
In September, about 8,000 apartments were purchased in Israel, a significantly lower amount than that which characterized the real estate market in previous months, due to the Tishrei holidays that were concentrated in September this year. This emerges from data published by the Ministry of Finance. Compared to September last year this is a decrease of 17%, when the number of working days in September this year was almost twice as low as this rate (32%) compared to September last year.
Investors’ purchases in September amounted to 1.7 thousand apartments, a decrease of 5% compared to September last year, a very moderate decline rate given the shortage of working days in September this year. On a daily average, investor purchases in September this year were 40% higher than in September last year. Investor weight reached 21.5%, the highest since March 2016.
Investors’ sales in September stood at 1.5 thousand apartments, a decrease of 20% compared to September last year. This inventory, which began to decline in April 2016 (after a cumulative increase of approximately 58,000 dwellings in the years 2015-2010, before the purchase tax on them was heavier in June 2015).
Contractors’ sales in September totaled 3.0 thousand apartments, a decrease of 15% compared to September last year. On the other hand, the Tel Aviv area stands out with the sharp increase in these sales, when in the first nine months of this year the record for annual sales in this area was broken for at least the last twenty years.
Purchases of “first apartment” in September totaled 3.5 thousand apartments, including “price per occupant”. This is a decrease of 19% compared to September last year. After deducting government-subsidized purchases, young couples’ purchases in the free market in September totaled 2.7 thousand apartments, a decrease of 16% compared to September last year. Purchases of housing improvers also amounted to 2.7 thousand apartments, compared to September last year this is a decrease of 20%.
At the same time, it should be noted that preliminary data for last October indicate a sharp increase in the number of transactions and the rate of investor acquisitions.