New apartment sales in Israel down 68% in October

Residential construction  credit: Shutterstock

The Central Bureau of Statistics data shows that between August and October 2022, 457 new homes were sold in Jerusalem, the biggest number during that period.


1,819 new apartments were sold in October 2022, the Central Bureau of Statistics reports, down 68% from October 2021, and down 35% from September 2022. While the rise in interest rates and more expensive mortgages is clearly having an effect, the figures exaggerate the severity of the situation because this year most of the holidays fell during October. Nevertheless, the fall in new home sales takes the market back to 2018 levels.







The Central Bureau of Statistics data shows that between August and October 2022, 457 new homes were sold in Jerusalem, the biggest number during that period, followed by Kiryat Gat 450, Netanya 387, Ashkelon, 355, Tel Aviv-Yafo 270, Beit Shemesh 247, Ramat Gan 210, Haifa, 207, Bat Yam 200, Beersheva, 179, Rishon Lezion 172, Ashdod 161, Petah Tikva 161 and Eilat 150.

Published by Globes, Israel business news – en.globes.co.il – on December 14, 2022.

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



Residential construction  credit: Shutterstock

Residential construction credit: Shutterstock

 

 

 

 

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