Let’s start with the message we received this week – “Sami Matzlovi, chairman and owner of the Matzlovi company, the pioneer of evacuation and construction in Israel, announces another new revolutionary move proposed for the first time in the field of urban renewal: full furniture for all the tenants of the compensation in the evacuation and construction projects of the company – as part of the technical specifications.” about a “gift” in urban renewal projects, but Africa Residences and Acro advertise non-stop about gifts in their new projects and the new apartments respectively, and in general – the contractors provide gifts. This is the first step. Such gifts, along with small discounts, are the first step in the price drop, and the actual prices are already came down
The most popular offers now from the contractors are – get a mortgage on us and pay 20% now and 80% later. It is worth a good few percent of the total price even though it is linked to the construction input index, and besides that there are companies that provide a discount of a few percent on the price of the apartment. They call it a sale price. The question of whether this operation in the eyes of another six months to a year will really express a discount, is really not certain.
The contractors are selling fewer apartments than before. They want to sell more and lower prices through freebies. This will also come down to financial discounts. Not sure it will be very dramatic. But what is certain is that in the meantime there are contractors who are beginning to be under pressure. The real estate market requires a lot of financing, building a building costs a lot of money and requires financing. The companies benefited from financing from the customers who would buy apartments on paper and pay a lot of money at the very beginning, and bank and other financing is still required. The interest on this financing is increasing in parallel with the increase in the Bank of Israel interest rate. This interest rate increases costs for contractors and reduces profits.
At the same time, the buyers also find it difficult to buy when the interest rate rises, it makes the mortgage very expensive and raises the repayments. This, along with the high apartment prices, leaves potential buyers on the fence. So the contractors have lower sales and this is at a time when some of them already have half flow. In such a situation they have no choice but to lower prices to increase sales.
The declining sales can be learned from the reports of Pershkovsky, one of the largest companies in the construction field. Pershkovsky reports every month on the sale of the apartments. The figures for November and October are weak 10, 14 apartments, this is an extremely low rate, Pershkovsky sold at a rate of over 1,000 apartments a year not long ago. So Prashkovsky is not in trouble. She’s big, strong, she’s got cash. But what will the little ones say? And more importantly, what will they do? The coming months in the real estate market will be critical.
If you want to specialize in the capital market and have a big head and motivation, you can be a good fit for us.
The job can be part-time; flexibility in working hours; Work from home too.
Preference (not mandatory) for writing experience and basic familiarity with the capital market.
Leave details and we will get back to you
Thank you for leaving details, we will try to get back to you as soon as possible
In the meantime, here are real estate transactions from the past week:
Jerusalem
– 3-room apartment, Haim Habib Street, Kraitz Hiyoval neighborhood, 43 square meters, 2nd floor out of 4, sold for NIS 1,750,000
– 3-room apartment, Island Street, Kiryat Menachem neighborhood, 70 square meters, floor 1 of 5, sold for NIS 2,100,000
– 6-room duplex, Yaakov Tahon Street, Kiryat Hiyoval neighborhood, 120 square meters, 20 square meters balcony, 2nd floor out of 2, sold for NIS 3,425,000
– 3-room apartment on St. Martin Street in Katamon 8th, 65 square meters + 12 square meters balcony, floor 5 out of 7, with elevator, without parking, sold for NIS 1.85 million
– 4-room garden apartment on Caspi Street in Arnona, 140 square meters, terrace 130 square meters, floor 0 out of 3, parking, rented for NIS 11,000 per month
Tel Aviv
– 4-room apartment, Mavo Volker Street, Maafili Egoz neighborhood, 78 square meters, floor 3 out of 7, parking, elevator, sold for NIS 2,325,000
– 4-room apartment, Machal Street, Neve Chen neighborhood, 100 square meters, 10 square meters balcony, floor 13 out of 15, parking, elevator, sold for NIS 3,220,000
– 5-room property, Homa and Migdal Street, neighborhood 3, 150 square meters on a 540 square meter plot, parking, sold for NIS 1,590,000
– 5-room apartment, Tana Shlomo Street, 150 square meters, 12 square meters balcony, 1st floor out of 15, parking, elevator, sold for NIS 1,525,000
– 4-room apartment, Gideon Hauzner Street, Ramot neighborhood, 115 square meters, 12 square meters balcony, 2nd floor out of 5, parking, elevator, sold for NIS 1,270,000
– 3-room apartment, Oli Hagardom Street, neighborhood C, 85 square meters, floor 13 out of 16, parking, elevator, sold for NIS 1,085,000
– 4-room apartment, Sderot Jerusalem Street, neighborhood 9, 100 square meters, 4th floor out of 13, parking, elevator, sold for NIS 1,030,000
– 5-room apartment, on Bezalel Street, 167 square meters, floor 17 out of 22, with an elevator, with a balcony, with parking, with a warehouse, sold for NIS 1.8 million
– 5-room apartment, on Golomb Street, 134 square meters, floor 5 out of 16, with an elevator, with parking, with a warehouse, sold for NIS 2.08 million
– 2.5 room apartment, Shi Agnon Street, Kiryat Eliezer neighborhood, 65 square meters, 3rd floor out of 5, sold for NIS 900,000
earing
– 5-room apartment, Lotem Street, 118 square meters, balcony 12 square meters, floor 7 out of 8, parking, elevator, sold for NIS 1,880,000
– 3-room apartment, 78 square meters, 2nd floor out of 3, sold for NIS 1,000,000
Rosh HaAyin
– 4-room apartment, Bayer Street, 90 square meters, 12 square meters balcony, 4th floor out of 5, parking, elevator, sold for NIS 1,920,000
– 4-room apartment, Upper Gertrud Street, 119 square meters, 12 square meters balcony, 2nd floor out of 4, parking, elevator, sold for NIS 2,800,000
streets
– 4-room apartment on Har Hatsopus Street, about 108 square meters + 10 square meters of sun terrace without storage, 3rd floor out of 7, elevator, parking, rented for NIS 5,800 per month
– 4-room apartment on Derech Yavne Street, about 100 square meters + 12 square meters of balcony, warehouse, 2nd floor out of 7, elevator, parking, rented for NIS 6,000 per month
– 3-room apartment on Gorodsky Street, approx. 63 square meters, 2nd floor out of 3, no elevator, shared parking, rented for NIS 3,800 per month
The data was collected from the Tax Authority, Rimex and Anglo-Saxon