Following the reduction of the purchase tax to "another apartment", investors returned • 10,500 apartments were sold during the month • This is one of the highest figures in recent decades
New apartment buildings in Yavne
Photography:
Yehuda Peretz
A jump of 23% in the volume of real estate transactions last August, compared to August last year. This is an increase of 8% compared to July - according to a survey published yesterday by the Ministry of Finance on residential real estate.
A multi-year comparison of the number of transactions in August in the last 20 years found that last August was one of the highest in apartment sales, both in total transactions (second only to August 2009) and in terms of those made in the free market only (fourth in this ranking).
According to the survey, the total number of transactions in August was 10,500, of which 9,000 in the free market (less price per occupant) - a jump of 27% compared to last year and 13% compared to the previous month.
The analysis shows that the most significant "contribution" to the increase in transactions was from first-time home buyers - these purchases were 745 apartments higher than in August last year.
The total number of second-hand apartment transactions in August was 6,500, an increase of 22% compared to August last year and an increase of 7% compared to the previous month.
Investors' purchases in August amounted to 1,600 apartments, a sharp increase of 55% compared to August last year and an increase of 87% compared to the previous month, against the background of the purchase tax reduction on "another apartment" at the end of July.
The contribution of investors and housing improvers to the increase in transactions was similar - purchases of each of these segments were about 600 apartments higher than in August last year.
When examining the increase in transactions compared to last July, it was found that the contribution of investors to the increase was crucial.
The purchases of young couples amounted to 5,300 apartments, an increase of 17% compared to August last year.
The total number of dwellings sold as part of the "price per occupant" in August was 1,500 dwellings, unchanged from August last year.
The Ministry of Finance notes that, taken as a whole, the volatility trend in the number of transactions in the real estate market continues, and in May-August the number of transactions increases and decreases intermittently at significant rates - each month compared to the same period last year.
