Real estate prices in Israel continue to increase
Despite promises to lower the housing prices in Israel, prices continue to rise. According to government's assessment test, prices increased by an average of 2.5%
- Akiva Weiss
- י"ג אב התשע"ו
יונתן זינדל, פלאש 90
Despite promises made by the minister of finance Moshe Kachlon, home prices continue to rise. Government Chief Appraiser Tal Aldroti published a Review of changes in house prices in the second quarter of 2016.
It determines that in the second quarter of 2016 there was an increase 2.5% (nominal) of the average price of apartments surveyed, compared to the previous quarter. Quarterly decline was not observed in any of the cities surveyed.
According to the government's assessment: "It follows that 4 room apartments under saturated construction are a common product in urban apartments in General, for which there are relatively low differences, and a review of hundreds of sales provides satisfactory detection of variability in price. Thus, these apartments (new and second-hand) were selected to be used as an indicator of the general level of variability in the housing market.
"The review results indicate that in the second quarter of 2016 most of the cities surveyed a price increase from the previous quarter in the average apartment. Two cities showed no price change. No quarterly decline was observed in any of the cities surveyed."
He also notes that in Tel Aviv, Jerusalem, and Haifa, there is a gap between luxury and poor areas in the same city.
Aldroti also states that "subsidized mortgage program effects are not yet seen in the observed cities surveyed. Among other reasons, because the fact that a relatively small amount of apartments came so far to the end consumer, and due to the shortage of such projects in the cities surveyed."
It determines that in the second quarter of 2016 there was an increase 2.5% (nominal) of the average price of apartments surveyed, compared to the previous quarter. Quarterly decline was not observed in any of the cities surveyed.
According to the government's assessment: "It follows that 4 room apartments under saturated construction are a common product in urban apartments in General, for which there are relatively low differences, and a review of hundreds of sales provides satisfactory detection of variability in price. Thus, these apartments (new and second-hand) were selected to be used as an indicator of the general level of variability in the housing market.
"The review results indicate that in the second quarter of 2016 most of the cities surveyed a price increase from the previous quarter in the average apartment. Two cities showed no price change. No quarterly decline was observed in any of the cities surveyed."
He also notes that in Tel Aviv, Jerusalem, and Haifa, there is a gap between luxury and poor areas in the same city.
Aldroti also states that "subsidized mortgage program effects are not yet seen in the observed cities surveyed. Among other reasons, because the fact that a relatively small amount of apartments came so far to the end consumer, and due to the shortage of such projects in the cities surveyed."
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