In 20 years: The percentage of homeowners fell by 5%, the rate of renters living increased
According to the findings of a survey conducted by the Central Bureau of Statistics, which examined households in Israel, the average value of an apartment owned increased by three and a half times over three decades. What is the monthly rent expense and what is the rate of holders of three or more properties? All the numbers
Percentage of homeowners in Israel lower than EU average (Photo: ShutterStock)
Building with sun balconies in Tel Aviv (Photo: ShutterStock)
The percentage of people living in apartments they owned in 2018 was 66.5%, down from 70.2% in 1997 - the Central Bureau of Statistics released today. This figure is lower than the EU average (69.3%) and ranked in the lower quarter compared to the other EU member states. In addition, the percentage of people living in rented apartments was 28%, up from 24.3% in 1997.
The data were compiled from the 2018 Household Expenditure Survey, which measures the material and economic standard of living of Israeli households from the perspective of expenditure, income, product ownership and housing data. The survey sample included 8,792 households in 247 localities. According to the findings, the average monthly rent expenditure was NIS 3,307. In addition, the average value of a condominium owned was NIS 1,833 million - three and a half times the value (at constant prices) in 1986-1987, which stood at NIS 530,000.
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The highest percentage of dwellers in owned apartments - in peripheral localities. Building in Yeruham (Photo: Liron Moldovan)
Building in Yeruham, October 2016 (Photo: Liron Moldovan, Walla System! NEWS)
Of those living in owned apartments, the share of its mortgage payers was 39%, and the average monthly repayment of its mortgage was NIS 3,617. The balance of the mortgage or housing loans in households living in their dwellings was about 20% of the average value of the apartment in most deciles. The average balance of her mortgage per household in the top decile was NIS 534,596 - 2.2 times the average of her balance in the lower decile - NIS 243,417.
By segmentation by level of periphery, the highest percentage of dwellers in owned apartments was in households in peripheral localities (77.3%), and the lowest - in households in very central localities (60.4%). In 2018-2003, there was also an increase in the percentage of households' ownership of two or more apartments - from 3.2% to 10.1%, respectively. Most of the increase was in 2008. Of the two or more apartments, 4,530 households (which is 2% of the total household population) had three or more apartments.More in Walla! NEWS More in Walla! NEWS
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