The Ministry of Finance today published mixed figures about the real estate market. The ministry's monthly macroeconomic survey for October states that while there was a 46% increase in home purchases compared with the low level in September, the number of home purchases in October was only 11% higher than in October 2009.
The average monthly number of home purchases in September-October was 8% lower than in the corresponding months of last year.
There was an unusual increase the proportion of real estate investors in Beersheva, but the Ministry of Finance explicitly says that there was a sharp increase in the proportion of investors selling apartments.
Prices for new apartments fell a further 1% in October, compared with September. New apartment prices fell 1.5% in the central region, excluding Tel Aviv, and prices in the Sharon area fell by 0.3%.
Published by Globes [online], Israel business news - www.globes-online.com - on December 6, 2010
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