Prices for buying and renting housing continue to rise in Israel.
In June 2024, rents increased by 2.2% when contracts were extended, and by 4.2% when new contracts were signed.
Prices for apartments and houses in April and May 2024 rose by 0.8% compared to the two previous months of the year, data from the statistical bureau showed.Behind the increase in prices is the threat of a shortage of housing amid a slowdown in construction. It is noted that prices decreased for half of 2022 and most of 2023 due to a sharp increase in interest rates.
"Despite the war, the upward trend in housing prices has continued since the beginning of the year, along with an increase in the number of real estate transactions," said Dror Ohev Zion, founder and CEO of Dara Agency."Since the beginning of the year The house price index increased by 3.4%, and we predict that even at current interest rates, the volume of sales in the market will not decrease.
Source: The Times of Israel
