Residential buildings in Gush Dan: will we soon see a drop in real estate prices? (Photo: Reuven Castro)
A 20-year low:
From the review of the chief economist at the Ministry of Finance, Shira Greenberg, which was published this week, it appears that October 2022 is the weakest October the market has known in the last 20 years.
According to the review, last October 5,100 apartments were purchased - a figure indicating a drop of 65% compared to October 2021, when 14,400 apartments were purchased, and a 36% decrease compared to the previous month, September 2022, when deals were signed for the purchase of 7,900 apartments.
Have we reached the turning point in the real estate market?
As we published this week in Vala Real Estate, the mindset among market experts shows that this trend will not necessarily lead to price drops in the near or far term.
Still, these were the transaction prices last week:
Jerusalem
6-room apartment, Ha'il Street, French Hill, 150 square meters, 2nd floor out of 4, sold for NIS 3,030,000
5.5-room apartment, Ramban St., 123 square meters + 7 square meters of storage, 1st floor out of 4, with elevator and parking, sold for NIS 6.45 million
Tzur Hadassah
7-room cottage on Karchum Street in Zur Hadassah, 7 rooms, 190 square meters, garden 50 square meters, balcony 20 square meters, private parking, sold for NIS 3.6 million
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Hadera
2-room apartment on Herbert Samuel Street in the city center, 70 square meters, 4th floor out of 4, no elevator and no parking, sold for NIS 1.08 million
Beer Sheva
3-room apartment on Niv David Street, 99 square meters + 12 square meters of balcony, 5th floor out of 7, with elevator and parking, sold for NIS 1.09 million
4-room apartment, Yehuda Halevi Street, neighborhood B, 128 square meters, 8 square meters balcony, floor 14 out of 18, parking, elevator, sold for NIS 995,000
5-room apartment, Gershon Shopman Street, Neve Ze'ev neighborhood, 158 square meters, 12 square meters balcony, 7th floor out of 7, parking, elevator, sold for NIS 1,170,000
4-room apartment, Nahum Sharig Street, Ramot neighborhood, 122 square meters, 10 square meters balcony, 1st floor out of 3, parking, elevator, sold for NIS 1,290,000
3-room garden apartment, Herzl Greenspan Street, Nahal Eshan neighborhood, 130 square meters, garden 95 square meters, ground floor out of 3, parking, elevator, sold for NIS 1,380,000
Beer Sheva: a 3-room garden apartment was sold for NIS 1.38 million (Photo: ShutterStock)
Haifa
A 3-room apartment, Derech Shraft St., Kiryat Shaprintsak neighborhood, 70 square meters, 3rd floor out of 4, sold for NIS 850,000
4-room garden apartment, Yitzhak Elhanan Street, central Carmel neighborhood, 124 square meters, garden 124 square meters, ground floor out of 7, parking, elevator, sold for NIS 3,940,000
Holon
3.5 room apartment, Mount Scopus Street, 70 square meters, 12 square meters balcony, 1st floor out of 9, elevator, sold for NIS 1,980,000
4-room apartment, Nissim Bachar Street, 100 square meters, 14 square meters balcony, 5th floor out of 7, parking, elevator, sold for NIS 2,820,000
Afula
4-room apartment, Wolfson Street, 103 square meters, 4th floor out of 5, parking, elevator, sold for NIS 1,135,000
5-room apartment, Nordau Street, 117 square meters, floor 6 out of 8, parking, elevator, sold for NIS 1,100,000
4-room apartment, 13 Cinnamon Street, 90 square meters, 4th floor out of 4, sold for NIS 700,000
earing
5-room garden apartment, Sapir Street, 104 square meters, garden 100 square meters, ground floor out of 7, parking, elevator, sold for NIS 1,930,000
Harish: Apartment prices continue to climb, with a 5-room garden apartment sold for NIS 1.93 million (photo: official website, Israel Bardogo)
The transactions were provided courtesy of
the Re/Max chain, branches: Re/Max Hazon, Re/Max 770, Re/Max New City, Re/Max Platinum, Re/Max Plus, Re/Max City.
Anglo-Saxon chain, branches: Beer Sheva, Jerusalem, Tzur Hadassah, Hadera
Real estate
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Real estate I
Real estate transactions