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Every fifth apartment sold in Israel is purchased by an investor

Investors continue to be a decisive factor in influencing real estate prices in Israel: every fifth apartment sold is intended for investment - all according to the chief economist at the Ministry of Finance. Eilat, Ashkelon, Harish and Sderot are at the top of apartment sales.

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• housing

• housing prices

• Real Estate

• Chief Economist

• Eilat

• Tel Aviv Jaffa

Sonia Gorodisky

Tuesday, 12 October 2021, 15:05 Updated: 15:21

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After much public criticism from the current government in the face of the lack of a serious work plan that will curb the rampant housing prices, three ministers (finance, housing and the interior) are currently considering a series of measures in the housing market to address the issue - one of which is raising the purchase tax on real estate

investors

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Real estate continues to lead the increase in the number of transactions and fuel the raging real estate market. According to a review published by Chief Economist at the Ministry of Finance Shira Greenberg, every fifth transaction made in the real estate market last July was made by investors The purchase went down.

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Eilat: The southern city in Israel has become a leader in the table for buying new apartments (Photo: ShutterStock)

The tangents continue to purchase apartments

Last July, 2,600 apartments in Israel were purchased by investors - a figure 3 times higher than in July last year, and 80% higher than in July 2019.

It should be noted that the low level of real estate transactions last July is explained by waiting for investors to lower the purchase tax. Presumably because of reports about the plan being formulated by the government to fight the investors, the number of their transactions continue to be high and will increase in the coming months until the entry plan into effect.

the survey indicated that the analysis of the leading cities in purchases of investors in July last prominent cities of Eilat, Ashkelon, plowing and avenues, ranking higher than It should be noted that with regard to plowing, this is a renewed revival in the acquisitions of investors in this city.

Chief Economist at the Ministry of Finance, Shira Greenberg (Photo: Finance Spokeswoman)

Purchase more apartments than in July 2020, but less than last month

Tel Aviv, Jerusalem and Haifa leading the investor purchases. The survey also shows that investors tend to change their preferences - a significant number of cities recorded a preference to purchase cheaper apartments than in the past.

Segmented by region investors' purchases of real estate taxation prominent Beersheba area with a sharp increase In these purchases, which amounted to 388 apartments, the highest level in this area since the historical record level recorded in June 2015. Compared to July last year this is a sharp increase of 222% while compared to July 2019 it is an increase of 133%.

Investors' sales in July amounted to 2.6 thousand apartments, similar to the number of apartments purchased by investors. last year.

The survey shows that in July, a total of 13.1 thousand apartments were purchased (including government-subsidized apartments, etc.) - an increase of 35% compared to July last year and a decrease of 5% compared to the previous month.

These data coincide with the latest housing price data published by the Central Bureau of Statistics - housing prices in June-July 2021 increased by 8.0% compared to the same period last year.

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