23/06/2024

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New home sales in Israel hit three-year low

New home sales in Israel hit three-year low

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New house revenue in Israel have strike a three-calendar year reduced, the Central Bureau of Stats studies. 2,780 new residences were bought in August 2022, down nearly 50% from August 2021 and down 50% from August 2020. In July 2022, the amount of new flats bought was down 45% from July 2021.

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New property revenue have been slipping by an regular of 2.8% per thirty day period since October 2021. The amount of new homes acquired in August 2022 was comparable to the regular monthly quantities of the 1st fifty percent of 2019. New residence product sales are envisioned to have ongoing falling for the duration of the getaway months of September and October 2022, and it is possible that new household product sales concentrations will arrive at the minimal degrees of 2018.

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Central Bureau of Studies information clearly show that purchase discounts for new flats in Israel are falling quicker than for next-hand residences. At the exact same time the falling variety of new residences sold is rising the supply and stock of out there new, which arrived at 49,300 new residences at the stop of August 2022, the maximum amount because June 2020.

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Another stunning figure was that for the first time in quite a few yrs the biggest number of new apartments is being offered in Jerusalem. Amongst June and August 2022, 581 new apartments were offered in Jerusalem, followed by 513 new apartments in Netanya, 506 new flats in Tel Aviv, 388 new residences in Lod, 380 new flats in Beit Shemesh, and 352 new apartments in Rishon Lezion.

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Revealed by Globes, Israel small business information – en.globes.co.il – on October 18, 2022.

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© Copyright of Globes Publisher Itonut (1983) Ltd., 2022.

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