Israeli Housing Prices Resume Decline With 0.6% Drop in Latest CBS Index
Israeli housing prices dipped 0.6% in the latest CBS index, marking an annual decline of 1.8%. Data from national brokerages highlights recent transactions amid market stagnation.
Housing prices in Israel have resumed their downward trend, according to the latest Central Bureau of Statistics (CBS) index for July-August, registering a 0.6% decline compared to the preceding two-month period. The index also recorded an annual decrease of 1.8%, alongside a 0.4% drop in new apartment prices.
To illuminate the current state of the residential real estate market, which is characterized by deep transaction stagnation, recent deals compiled by national brokerage networks reveal concrete sales across the country.
Transaction Highlights Nationwide
-
Beersheba: A 4-room apartment on Moriah Street in Neighborhood A, spanning 90 sqm on the 2nd floor out of 4, sold for 900,000 NIS. A larger 4-room apartment on Golomb Street in Neighborhood C, spanning 176 sqm on the 5th floor with a 24 sqm balcony, elevator, parking, and a secure room (mamad), fetched 1.76 million NIS.
-
Jerusalem: A 1.5-room garden apartment on Harlap Street in the Rehavia neighborhood, covering 35 sqm on the ground floor, was sold for 2.1 million NIS. Meanwhile, a 4-room apartment on Shmuel Tamir Street in Pisgat Ze'ev, spanning 92 sqm on the top floor with a 25 sqm balcony, parking, and a storage room, went for 1.99 million NIS.
-
Mevaseret Zion: A 5-room villa on Shimon Suissa Street, covering 215 sqm with a 350 sqm garden, 44 sqm balcony, double parking, and storage, was purchased for 5.65 million NIS.
-
Lod: A 3-room apartment on Hadarim Street in Naveh Hof, spanning 70 sqm, was sold for 1.2 million NIS, while a 4-room apartment on Meir Safran Street in the Sharet neighborhood went for 1.295 million NIS.
Data for this market overview was provided by leading real estate brokerage networks RE/MAX and Anglo-Saxon.
