Housing Prices in Israel Grow Non-Stop

Data from the Central Bureau of Statistics (CSI) showed that housing prices have increased by 9.9% over the past year. And over the past decade, real estate in the country has risen in price by 346%. At the same time, Finance Minister Avigdor Lieberman predicts that by the end of 2021 it will increase in price even more.

The minister has said that there are five factors influencing the price increase. Two of them are the key interest rate and shipping costs, and both are beyond the government's control. The other three - demand, supply and planning - are sectors in which, according to him, public policy "broke records this year."

Lieberman also noted that with the approval of the state budget earlier this month, the gap between supply and demand in the real estate market will be eliminated "within three to four years."

CSI data showed that prices did not rise in all areas in September compared to August, falling in Tel Aviv (-0.3%) and Jerusalem (-0.1%). The strongest growth was in the south (1.6%) and in the central region (1.5%). In Haifa, real estate has risen in price by 1% in a month.

However, compared to prices for the same period last year, there was an increase in all regions. In central, prices increased by 11.9%, in Jerusalem - by 9.9%, in the north - by 9.6%, in the south - by 9%, in Tel Aviv - by 8.8%, in Haifa - by 8.1%.

The Bank of Israel has announced a series of reforms designed to simplify the process of obtaining a mortgage for borrowers. He instructed Israeli banks to make the process more transparent by providing only three interest rate options and making it easier to choose between banks.

The new measures will allow customers to apply for a mortgage online and ensure that banks provide everyone who meets the requirements with a standard initial approval in a single format within a few days after the request.

According to the new plan, banks will also have to use a calculator for various mortgage plans, as well as provide information on the maximum payment, potential interest rate changes.

At the end of last month, the government unveiled a major housing construction plan for 2022-2025, aimed at increasing the supply of apartments and, as a result, reducing prices.

According to a report by the Alrov Real Estate Research Institute at the Koller School of Management at Tel Aviv University, the average cost of a four-room apartment in Israel is $682,608. And the average capital required for a minimum down payment of 30% and related expenses is estimated at about $261,140.

Despite these difficulties, the total amount of mortgage loans taken out by Israelis in August reached a record level of $3.7 billion. According to the Central Bank, in October this figure was at the level of $3.45 billion.

CSI also reported a 2.6% increase in the Consumer Price Index since the beginning of the year. But Lieberman said that by the end of the week the government will prepare two packages of measures to combat the cost of living and exports, promising that these will be "very significant steps."

See what you can buy in Israel right now:

2 263 865 €

Apartment in Tel Aviv, Israel

159 sq.m 5 4

Andromeda Hill has been a symbol of Jaffa’s revival since the 90s. This exclusive, luxurious complex in the beating heart of the Old City is designed in a romantic Mediterranean style. Andromeda Reborn invites you to enjoy an exclusive selection of services, including a stylish, tranquil swimming pool filled with fresh, chlorine-free water...

Israel Sotheby’s International Realty

6 811 492 €

Penthouse in Tel Aviv, Israel

413 sq.m 6 5

This gorgeous duplex penthouse is situated in the most prestigious region, just in the very heart of Tel Aviv, 'Sarona Gardens'- a unique blend of authentic buildings reflecting the history of first settlements in Israel and modern architecture with quick access to Ayalon Highway. The main advantage of living in this luxurious...

Israel Sotheby’s International Realty

2 053 532 €

Penthouse in Tel Aviv, Israel

135 sq.m 3 3

The penthouse offers unique style designed by the leading architect Ilan Pivko - with an industrial interior design, 6m2 high ceilings and top quality martials this penthouse is truly one of a kind! The penthouse situated on the top 9th floor of an exclusive building in a residential complex, which features entertainment center with trendy...

Israel Sotheby’s International Realty

1 842 678 €

Townhouse in Tel Aviv, Israel

160 sq.m 3 2

If you enjoy waking up in the morning and seeing the marvelous views of the Mediterranean Sea, Jaffa is the right place for you. And this exclusive duplex could become a perfect home for you. It is located in the heart of the beautiful Old Jaffa, five minutes away from the historical Jaffa Port and within two minutes from the charming...

Israel Sotheby’s International Realty

8 984 202 €

Apartment in Tel Aviv, Israel

530 sq.m 7 5

This striking residence dating back to 1100 A.D. Is situated 6 meters from the water in the historic port of Jaffa. Re-imagined by famed architect, Ilan Pivko, this masterpiece building, features a 530 square meter/5,700 square feet apartment with 5 bedrooms. This Luxurious apartment was designed by the architect Dalia Chiche and offers...

Israel Sotheby’s International Realty

2 475 239 €

Flat in Netanya, Israel

207 sq.m 2 2

A modern luxury residential complex is located on the first line of the sea, a 10-minute walk from the central beach of Netanya. The project includes a full high-end finish, swimming pool, 2 underground parking, concierge service, gym. The complex consists of 14 floors. All apartments offer panoramic sea views. The penthouses include private...

NF Group

Price on request

Penthouse in Tel Aviv, Israel

300 sq.m 5 3 3

In the heart of the Greek market, a timeless and exotic district, filled with history, close to the vibrant Flea Market and all the main attractions of Old Jaffa a unique and luxurious historic home is situated. Located above an original listed Ottoman warehouse dating back to the 18th century, and after 2 years of restoration work, involving...

Israel Sotheby’s International Realty

1 643 742 €

Villa in Caesarea, Israel

300 sq.m 7 5 5

This brand new home is located in one of the most affluent cities in Israel – Caesarea. Built to the highest standards with best quality materials and features a luxurious specification. This property will exceed your expectations, perfect for those who seek a house where they can bring their own design taste and make it a truly unique...

Israel Sotheby’s International Realty

7 975 772 €

Apartment in Tel Aviv, Israel

380 sq.m 5 4 4

This luxury apartment is situated on the 7th floor in Akirov Tower – one of the most prestigious and sophisticated towers in Park Tzameret residential complex, beloved by the celebrities and politic figures of Israel because of its serenity, rich amenities, beautiful views and total privacy. Built to the highest standards with the finest...

Israel Sotheby’s International Realty

425 000 €

Flat in Haifa, Israel

90 sq.m 4

Flat

Victoria Real Estate Agent in Haifa

4 780 626 €

Villa in Netanya, Israel

500 sq.m 4

Citizenship Online Viewing

The villa is located just a few minutes walk from the sea. It is located on a plot of 740 m2; has 500 m2 of living space on 3 floors. The villa has a large open living room with double height ceilings, a large kitchen, a spacious master bedroom with bathroom and dressing room, a bedroom with bathroom and two additional bedrooms.In the beautiful...

Intermark Real Estate

5 500 532 €

Flat in Tel Aviv, Israel

196 sq.m 5 4 3

Apartment in a new building on Rothschild Boulevard in Tel Aviv 5 rooms, 196 sq.m. Balcony 60 sq.m. 6th floor Designer renovation Sea view. To the sea 10 min walk

ISRA HOME

25 000 000 €

Villa in Tel Aviv, Israel

500 sq.m 7 6 7

A very rare object is a separate house in the center of Tel Aviv. On a quiet prestigious street, next to Dizengoff street. Elegant interior decoration. Similar objects in the center of Tel Aviv can be counted on the fingers.

ISRA HOME

2 000 000 €

Flat in Tel Aviv, Israel

100 sq.m 4 3 2

Online Viewing

One of the hottest objects under construction in Tel Aviv! It is located in the center of Tel Aviv at the intersection of Ibn Gvirol and Arlozorov streets. Two towers with a height of 50 floors each, on the ground floors there is a shopping center, SPA, swimming pool, gym. Discounts from the developer for our company's clients....

ISRA HOME

550 000 €

Flat in Haifa, Israel

113 sq.m 4 3 2

Credit

Have you been looking for an apartment in a good area and near a convenient transport interchange , but at the same time quiet ??? For sale! In Haifa, on Biram street : 4-room apartment After major repairs Spacious rooms The parent bedroom has a private bathroom and a balcony surrounded by greenery Modern kitchen New air...

Victoria Real Estate Agent in Haifa

660 000 €

Flat in Rishon LeZion, Israel

115 sq.m 5 4 2

Transaction analysis! There are not many opportunities for a private person to earn money on real estate in Israel.Judge for yourself: the rental yield varies from 1.5% in Tel Aviv and the center to 3-4% in the periphery, prices are high, the apartment even in the initial stage of construction is not much cheaper than the finished one. But there...

ISRA HOME

414 000 €

Flat in Haifa, Israel

100 sq.m 4 3 2

Online Viewing

For sale! On the beautiful, quiet Einstein street +spacious 4-room apartment, 100 sq.m +large kitchen (can be separated from the salon if desired) +two bathrooms, one bathroom +bright spacious living room with a nice view +4 air directions +parking !!! +warehouse +comfortable floor A wonderful option for a family,there are good schools,...

Victoria Real Estate Agent in Haifa

1 125 000 €

Flat in Bat Yam, Israel

128 sq.m 4 3 3

Apartment in a new house (5 years) in Bat Yam Excellent location - with an open sea view. Sold with all the furniture that is in the photo. 5 minutes to the beach. Underground Parking for 2 cars and a storage room.

ISRA HOME

12 845 625 €

House in Herzliya, Israel

720 sq.m 6 7

Israel Habitat

6 692 314 €

Penthouse in Tel Aviv, Israel

280 sq.m 4 2

This exquisite penthouse of 380 square meters occupies an entire floor. It is located in the exclusive Noga district, in the urban heart of Tel Aviv, just a stone's throw from attractions such as the old Ha-Tahana railway station in the historic Neve Tzedek and within walking distance from the popular beaches of Tel Aviv. The residential complex...

Israel Sotheby’s International Realty

See more 184 similar properties

Source: The Times Of Israel

Photo: pexels.xom

Quoting conditions of Prian.info materials