Data from the Bank of Israel show today (Tuesday) that the volume of mortgages in December was NIS 12.2 billion - an all-time high.
This is a figure about 11% higher than the previous month, when the volume of mortgages was NIS 10.8 billion.
From the Bank of Israel's data, it can be learned that the influx into the housing market continues, based on the Investor Taxation Law, which came into force at the end of November.
Recall that the tax rate on purchases of an investment apartment worth up to NIS 5.348 million was increased from 5% to 8%.
In the past, raising taxes for real estate investors has led to a reduction in their share of the housing market, the fact that this has not yet happened indicates the expectation that housing prices will continue to rise at a high rate and the public's lack of confidence in government ability to lower housing prices in the near term.
According to recent CBS data, housing prices have risen by 10.3% per year - the highest rate of increase since 2010. In his latest reference to real estate prices, Finance Minister Lieberman estimated that this year housing prices will rise by 6-5%.
A surge in real estate prices is not unique to Israel, and in recent months there have been increases in other developed countries as well. Apart from the favorable financial conditions, the supply of housing in Israel is not enough to keep up with the rising level of demand in the economy.
Jonathan Berliner, Chairman of the Professional Committee of the Association of Mortgage Advisors for Israel Today: "The updated mortgage data confirm the feeling of panic felt in the market, in that the public today 'buys at any price'.
The increase in mortgage demand is significantly higher than the rise in apartment prices, which means that the public is today willing to take on large liabilities and risks in order to purchase an apartment.
"The most significant figure for examining competition in the world of mortgages is the number of cycles in the market, and the ability of customers to move from bank to bank to improve their mortgage terms. And the data published today shows that "% Of all mortgages (a decrease of two percentage points compared to last year), despite the cancellation of one-third of the prime at the beginning of the year.
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