In June, 13.8 thousand apartments were purchased - the highest level since the historical record set in June 2015, against the background of early purchases by investors that month, before the purchase tax was heavier.
This emerges from a survey of the residential real estate industry published by the Chief Economist at the Ministry of Finance on the eve of the holiday.
Compared to June last year this is a 26% increase, and it should be remembered that in June last year there was a significant recovery in the number of transactions, after the sharp declines in the first three months to break out of the corona plague.
After deducting government-subsidized purchases, 12.7 thousand apartments were purchased in the free market in June - also the highest level since June 2015. Compared to June last year, this is an increase of 38%.
Also in June, it was investors who led the increase in transactions, with a sharp increase of 126% compared to June last year. This brought the total number of dwellings purchased in June to 2,900 dwellings, the highest level since June 2015. In the last 11 months, since the purchase tax was reduced, the rate of investor purchases stands at a monthly average of 2,186 dwellings, similar to 2014-2013, which Among other things, they were against the background of the tax increase in June 2015.
In the last two months, the rate of investor acquisitions has accelerated to a monthly average of 2,800.
Investors are not only buying apartments, they are also realizing: in June they sold 2,900,000 apartments, an increase of 32% compared to June last year.
This is also the highest level of investor sales since June 2015. Analysis of the findings suggests that at least among company owners, among those who sold their additional apartment in June - a higher rate than before did so due to the need for higher liquidity.
In addition, it was found that those who leave the real estate market in the demand areas in the center of the country are the least established among investors in these areas, but this is not necessarily against the background of the corona epidemic, the Treasury estimates.
Investors' inventory of apartments remained unchanged in June, following a significant decline in this inventory from April 2016 until the purchase tax reduction at the end of July last year.
The highest since 2015
The sale of second-hand apartments in June amounted to 9,100 apartments, the highest level since June 2015. Compared to June last year, this is an increase of 36%.
Contractors' sales in the free market alone amounted to 3,600 apartments, a sharp increase of 41% compared to June last year.
Contrary to findings in second-hand apartments, contractor sales in June are not the highest since June 2015, with higher levels recorded both last March and December last year.
Purchases of "first apartment" in the free market in June amounted to 4,800 apartments, an increase of 22% compared to June last year.
A slightly higher growth rate (25%) was recorded in the purchases of housing improvers, which amounted to a total of 5,000 apartments.