Signs of cooling in the real estate market:
according to the data of the Central Bureau of Statistics published today (Sunday), in June only about 3,550 new apartments were sold, a decrease of 3.4% compared to the previous one. In total, in the three months April-June 2022, about 10,970 new apartments were sold, this month A decrease of 14.4% compared to the previous quarter January-March 2022. About a quarter of the total new apartments were sold with government subsidies.
According to the Central Bureau of Statistics, since August 2021 there has been a downward trend at a rate of 3.3% per month, after an increase at a rate of 2.3% per month was observed from April 2020 to July 2021.
Tomorrow the CBS will publish the data for the consumer price index and the housing price index, and we will be able to know whether the downward trend in the volume of sales of the new apartments also affected their prices.
A decrease in the purchase of new apartments,
The ten localities where the highest number of new apartments were sold in the three months April-June 2022 are: Netanya (624), Tel Aviv-Yafo (561), Ashkelon (489), Ramat Gan (473), and Jerusalem (464), Beer Sheva ( 386), Rishon Lezion (371), Ashdod (342), Beit Shemesh (335) and Or Yehuda (301).
It is interesting to note that the city of Ashkelon continues to attract apartment buyers and is in third place, despite the fact that it is a city that receives heavy barrages during security operations.
According to the Tax Authority, Ashkelon recorded the highest number of damage to property at 84.
The CBS data also shows that at the end of June 2022, the number of new apartments left for sale was 47,100 apartments and the number of months of supply (the number of months that will pass until all the apartments left for sale are sold) is 13.1 months.
The number of months of supply in the three months April-June 2022 is 12.6 months on average (weighted), assuming that the sales rate in these months will be the same as the sales rate recorded during June 2022.
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