A housing and construction project/Viewpoint
The housing market is recovering:
Shikun and Binui Real Estate announced this morning (Mon) that it sold 173 housing units in the first quarter, a sharp jump of about 250% compared to the first quarter last year in the shadow of the legal reform, in which 73 apartments were sold in total. The achievement is even more striking, if you take into account that all the apartments sold are on the free market.
The locations leading the number of sold apartments are Ben Shemen, Tel Aviv, Rishon Lezion, Hod Hasharon and Kiryat Bialik. The average price of an apartment is about NIS 2.9 million and the value of the contracts amounts to about half a billion NIS. In terms of the mix of apartments: the mix and types of apartments is diverse and ranges from two-room apartments to penthouses.
Regarding the second quarter, which started in the first week of April, Shikon and Binui reports that the high rate continues, and so far about 20 more apartments have been sold.
Dan Moyal, Vice President of Marketing and Sales of Housing and Construction Real Estate/Lior Moyal
Dan Moyal, Vice President of Marketing and Sales of Shikun and Binui Real Estate: "The housing market is waking up with a consistent increase that characterizes the last few months. The increase is not only due to one factor, and is related, among other things, to more optimal economic conditions than before along with psychological aspects of peace and security that communicate with Apartment purchase".
"It is interesting to see that the range of apartments sold is wide and the mix of apartments is diverse, which also indicates diversity among the buyers. It can be estimated that the increase will continue and we need to see how all the factors, the state, local authorities and developers are working to increase the supply," concludes Moyal.
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