Madas (the Tel Aviv University Student Union's list of apartments for rent or sale) reports that rent for two and three-room apartments in north Tel Aviv is falling, but is rising in south Tel Aviv. Madas’ database collates offers for 10,000 rental apartments throughout Israel every month.
The average rent of a three-room apartment in south Tel Aviv was $665 in September, 5.5% more than the $630 in August and 18% more than the $560 in July. The average rent of a three-room apartment in north Tel Aviv was $787 in September, 6% less than the $838 in August and 1.7% less than the $801 in July. The average rent of a three-room apartment in central Tel Aviv was $919 in September, 10% more than the $829 in August and 5.6% more than the $870 in July.
The average rent of a two-room apartment in south Tel Aviv was 4.7% higher in September than in August, and 10% higher than in July. The average monthly rent of a two-room apartment rose from $461 in July to $485 in August to $508 in September. The picture in north Tel Aviv was the opposite: the average monthly rent in September was $651, 4.5% less than in August, but 2% higher than in July. Rents for two-room apartments in central Tel Aviv were almost unchanged at $667 per month.
The average rent of a three-room apartment in Ramat Gan and Givatayim was $677 in September, 1% more than in August and 3.3% more than in July.
The average rent of a three-room apartment in Jerusalem fell 4.1% in September to $616 from $643 in August, but was higher than the average rent of $593 in July. Rent also fell in Haifa and the Krayot suburbs from $415 for a three-room apartment in August to $407 in September.
Published by Globes [online], Israel business news - www.globes.co.il - on October 8, 2006
© Copyright of Globes Publisher Itonut (1983) Ltd. 2006