/New home sales on the rise

New home sales on the rise

Sales are, however, heavily concentrated in Tel Aviv and the center.

“In September-November 2018, 5,650 new housing units were sold in Israel,” Israel’s Central Bureau of Statistics reported today. This is 1.3% more than the number of new homes sold in the three preceding months. The Central Bureau of Statistics says that a real trend is involved. “The trend data in recent months show that starting in March 2018, the number of new homes rose by an average of 2.2% per month, from 1,720 to 2,100,” the report states. This is a reversal of the trend that prevailed from the summer of 2015 until early 2018.

Figures for November (subject to revision) show that 2,178 new homes were sold nationwide, with most of the deals taking place in the Tel Aviv and central districts. 676 housing units were sold in the Tel Aviv district and 673 in the central district. Following them, at a considerable distance, were the Haifa district, with 251 new homes sold in November, and the southern district, with 212. 199 new homes were sold in Jerusalem, and only 109 in the northern district, meaning that over six new homes were sold in the Tel Aviv district for every new home sold in the northern district.

The survey also shows that central Israel leads in housing demand: new housing units sold plus new housing units used by owners of rights to the land, and which are not up for sale. 56.4% of the total demand for housing was in the central and Tel Aviv districts, compared with 11.7% in the northern district, 10.6% in the southern district, and less than 9% in the Jerusalem district.

Published by Globes, Israel business news – en.globes.co.il – on January 14, 2019

© Copyright of Globes Publisher Itonut (1983) Ltd. 2019

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Ramat Hasharon homes for rent Photo: Eyal Yitzhar

Ramat Hasharon homes for rent Photo: Eyal Yitzhar