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D&B Israel: Tenth of real estate cos at high risk

20 Dec, 2009 17:34
שלח תגובה במיילMichal Margalit

Interest rate hikes and fewer foreign buyers will likely halt the rise in housing prices next year.

The improvement in Israel's business and financial climate in recent months has sharply reduced the risk of Tel Aviv Stock Exchange (TASE) listed real estate companies, compared with the risk levels at the height of the economic crisis a year ago. Nonetheless, one in ten TASE-listed real estate companies are classified as high risk, compared with 19% of companies last year, according to Dun & Bradstreet Israel.

30% of TASE-listed real estate companies are classified as medium risk, and 60% are low risk.

Tomorrow, Dun & Bradstreet Israel will hold its annual real estate conference as part of the Duns 100 project. The company believes that the total value of mortgages in Israel will rise to NIS 13.1 billion in the fourth quarter of 2010, 80% more than in the first quarter.

Dun & Bradstreet Israel believes that the Bank of Israel interest rate hikes, together with reduced apartment purchases by foreign residents, are liable to halt the rise in housing prices beginning in the second quarter of 2010.

Published by Globes [online], Israel business news - www.globes-online.com - on December 20, 2009

© Copyright of Globes Publisher Itonut (1983) Ltd. 2009

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