Real Estate (Flash Photography 90 / Gili Yaari)
A survey of the real estate market conducted by the chief economist at the Ministry of Finance, Saria Greenberg, shows that in September there was a decrease in the number of transactions, a figure that is required in light of the few working days.
But the real bomb is, as always, in the small print. Greenberg says this morning that initial data that reached the firm (mainly through the tax authority) indicates a sharp increase in apartment purchases in October and even that investors went berserk with apartment purchases as their share of total transactions increased sharply.
More in-
As there is currently no complete information on the volume of transactions made in October and the share of investors in the market, all that remains is to grasp Greenberg’s warning with both hands and understand that this is a healthy process in which real estate investors take an active part in the real estate market. The truth – a small country with a significant natural increase, with a large increase of Jews from abroad can not really bring down housing prices without using Bolshevik tools and we do not want to be there so you should start getting used to the new situation – these are prices and not everyone should own an apartment in North Tel Spring owned.
Returning to the dry September data, during which about 8,000 apartments were purchased, 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. Was almost twice as low at this rate (32%) compared to September last year.
Investors’ purchases in September amounted to 1,700 apartments, a decrease of 5% compared to September last year, a very moderate decline rate given the small number 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 1,500 apartments, a decrease of 20% compared to September last year. “The one that began to decline in April 2016 (after a cumulative increase of about 58,000 apartments in the years 2015-2010, before the purchase tax on them in June 2015).
Contractor sales in September totaled 3,000 apartments, a decrease of 15% compared to September last year. On the other hand, the Tel Aviv area stands out with the continued 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.
“First apartment” purchases in September totaled 3,500 apartments (including “price per occupant”), 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 totaled 2,700 apartments, compared to September last year which is a decrease of 20%.
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