An increase in the volume of new mortgages, despite the crisis.
Mortgages in the amount of NIS 53 billion were rejected
Most mortgage borrowers are housing improvers aged 30 to 40
Photography:
envato elements
Produced by the Department of Special Supplements
The year 2020, the year of the corona, was one of the surprises not only in the field of real estate, but also in the field of mortgages. The corona disrupted the whole world and reached, of course, this field as well.
Tens of thousands of Israelis have postponed their mortgages for the rest of the year, hoping to recover and return to regular payments.
Data from the Bank of Israel published in December revealed that despite the economic crisis and the corona plague, NIS 70 billion in mortgages have been taken out since the beginning of 2020, in 11 months, compared with NIS 68 billion in 2019. The data also show that Israelis rejected NIS 53 billion in mortgages. NIS, out of all mortgages amounting to almost NIS 400 billion.
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So what are the main trends and who are the people who took out a mortgage this year?
A study conducted by mortgage advisor Meir Wieder, CEO of Wieder Mortgages, shows that the vast majority are young couples aged 30 to 40, who are improving for a larger apartment because they understand they are going to be more around the house in the near future and want a more spacious property. Were in favor of an apartment with a balcony.In addition, most mortgage takers purchase in the central areas and not in the periphery.
How many mortgages have Israelis taken out?
According to the average data of about 1,200 mortgages, the average mortgage amount was about NIS 1,136,000.
The monthly repayment increased by an average of 18% compared to 2019.
Of these, the mortgage refinancers stand at an average amount of NIS 856,000, with an estimated savings in the mortgage turnover of NIS 128,000 on average.
And when were the highest demands?
The demand trend in January-February and then in May-December weights an increase of about 39% in relation to the number of applications and mortgage applications compared to the whole of 2019.
The number of applications for housing per occupant is decreasing and the number of applications for first- and second-hand apartments is increasing, following the abolition of the subsidy for price-per-tenant winners.
And where did the Israelis want to buy this year?
The most popular cities for purchase were: Kfar Saba, Raanana, Hod Hasharon, Ramat Gan, Tel Aviv, Haifa, Hadera and Givat Shmuel.
Produced by the Department of Special Supplements