According to the monthly report of the Chief economist of the Ministry of Finance, the number of apartments sold in January increased by 14% compared to the same period last year. 8,053 transactions were registered, which is the highest number since September 2022. Compared to December 2023, the number of transactions in January 2024 increased by 32%. "This is the first month since March 2022," that is, since the Bank of Israel began to raise interest rates, "when an increase in the number of sales was recorded compared to the same month a year earlier," said Shmuel Ambrazon, chief economist at the Ministry of Finance.
One of the main reasons for the recovery and a sharp increase in sales, Abramzon called the attractive financing conditions that developers offer to buyers.
Sales of new apartments and houses in January reached 3,716 units, which is 46.2% more than last year, and this is the highest figure since May 2022.
4,337 objects were sold on the secondary market, which is 4.7% less than in January last year. However, a positive trend can be seen, given the double-digit decline in previous months.
The recovery is mainly observed in the segment of new buildings in the central region of the country and Jerusalem, as the war has increased the demand for new apartments with increased security and weakened the demand for houses in the northern and southern parts of the country.
Source: Tne Times of Israel
