A 52% drop in the number of new apartments sold in 2022 compared to 2021 (photo: screenshot, LMS)
The data of the Central Bureau of Statistics published today indicate a dramatic drop of 30% in the sale of new apartments in 2022, compared to the year 2021. According to the Central Bureau of Statistics data, a
total of 40,480 new apartments were sold in 2022, a drop of 30% as mentioned compared to the year 2021, in which 57,840 new apartments were sold.
It also appears that in the last quarter of 2022, only 7,770 apartments were sold - a figure that reflects a decrease of 8.7% compared to the quarter before it. Seasonal adjustment, this figure reached about 7,490 apartments, meaning a decrease of 14.7% compared to the previous quarter.
Also, in the last month of 2022, only 2,740 new apartments were sold - a decrease of 9.5% compared to November 2022, and a drop of 41% compared to December 2021, during which 4,674 new apartments were purchased.
The meaning: a larger amount of apartments on the shelf
According to the report's data, at the end of December 2022 the number of new apartments remaining for sale was about 53,542 apartments and the number of months of supply, that is, the number of months that will pass until all the apartments remaining for sale are sold according to the current sales rate, was 20.3 months.
For comparison, in December 2021 there were 47,606 apartments left for sale, and the number of months of supply was 9.8 - more than double the number in December 2022. The
trend shows that starting from September 2021 until the date of publication of the report (02/14) there was a 4.3% decrease in the rate of demand per month - a result An exception in recent years, since in the months from February 2018 to August 2021 an increase was observed at a rate of 2.5% per month.
In Gush Dan, the number of transactions dropped by 42%;
Jerusalem and Ashkelon lead in the amount of purchases
The decrease in the number of transactions for new apartments in 2022 was reflected in all districts of the country, with the most extreme change occurring in Gush Dan district, where 7,460 apartments were sold in 2022, a figure that reflects a decrease of nearly 42% compared to last year.
In Tel Aviv itself, the number of transactions dropped by 52% compared to 2021, and is fourth only to Bat Yam (57%), Kiryat Ono (56%) and Harish (53%).
A sharp decrease was also observed in the Haifa district, when sales transactions of 4,410 new apartments were recorded in 2022, a figure that reflects a decrease of 40.3%.
The largest amount of new apartments was sold in the Central District - 10,000, but there was also a 37.6% decrease in sales volumes.
Precisely in the peripheral districts - the North and the South, there were more moderate decreases in transaction volumes of 12.5% and 14.5% respectively.
On the other hand, in the Judea and Samaria region there was a 14% increase in the number of transactions to the number of 1,455.
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In which district was the biggest decrease in the amount of new transactions? (Photo: screenshot, LMS)
And if we move to positive records:
the localities where the most new apartments were sold in 2022 are Jerusalem (2,195) and Ashkelon (2,011), with a third of all new apartments sold during the year 2022 concentrated in the localities: Jerusalem, Ashkelon, Tel Aviv-Jaffa, Netanya, Rishon Lezion, Ramat Gan, Petah Tikva and Beer Sheva.
Also, in the settlements of Kiryat Malachi, Lod and Or Yehuda, the largest percentage increase in the number of new apartments sold in 2022 compared to 2021 was recorded.
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