If your landlord has recently raised the rent you have paid so far, you are by no means the only one who has "earned" a significant increase in the cost of living.
According to data from the Yad2 website, rents for apartments with three and four rooms have skyrocketed in the major cities in the country since the beginning of the civil year, ie: in January and February for 2022 compared to the same period last year.
Thus, in four-room apartments, prices have jumped from the beginning of the civil year to 13%, and in three-room apartments there has been an increase of up to 12%.
Although it is not yet the end of the quarter, and yet the data indicate a trend of significant increase in the area of rental housing.
As for apartments with four rooms, in the cities of Hadera and Ramat Gan, the largest increase in average rents occurred, with an increase of 13%.
In Hadera, rents averaged NIS 3,996 in January-February 2022, compared with rents of NIS 3,538.
In Ramat Gan, the rent was NIS 6,688, compared to NIS 5,940.
In Herzliya and Raanana, there was an average increase of 12%.
In Herzliya, the rent was NIS 7,022, compared to NIS 6,245.
In Raanana, the rent was NIS 6,288, compared to NIS 5,623.
In Netanya and Tel Aviv, there was an increase of 10%.
In Tel Aviv, the cost of renting a four-room apartment was the astronomical sum of 8,633, compared to NIS 7,856.
There was an increase of 6% in Jerusalem, where the price was NIS 6,075, compared to NIS 5,730.
In Haifa there was an increase of 3%, where the price was NIS 3,713 compared to NIS 3,619, and in Be'er Sheva there was an increase of 2%, with a cost of NIS 3,205 compared to NIS 3,152.
Ayelet Nitzan, VP of Marketing, Yad2, Photo: Eibal Ronen
"The state must act"
In Holon, Ashdod and Lod, there were no changes in the rents of four-room apartments.
As for three-room apartments, in Tel Aviv, Givatayim, Ramat Hasharon and Herzliya, there was an increase of 12%.
Thus, the rent for a three-room apartment in Tel Aviv was NIS 7,373, compared to NIS 6,562.
The rent in Givatayim was NIS 5,780, compared to NIS 5,180.
In Ramat Hasharon the rent was NIS 5,589 compared to NIS 4,996, and in Herzliya it was NIS 6,050 compared to NIS 5,411.
Ayelet Nitzan, VP of Marketing at Yad2, said: "The main reason for the increases is the gap between supply and demand.
Demand levels for rental apartments are constantly rising in light of the public's difficulty in purchasing an apartment at today's market prices.
On the supply side, too, there is no significant increase in light of the restrictions on real estate investors who rent out the apartments, so the immediate result is another rise in prices. "
Advocate Doron Ariel, real estate expert and founder of Doron Ariel & Co., said: "The state must work to increase the quota of rental apartments and encourage the rental market in general, and prioritize rental construction by economic incentives for developers who build rental projects. In the long run, they will not sell them. "
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