"The social protest has had little effect on the market, but it brought demand to a halt."
Home prices rose by an average of 3% in July 2011-June 2012, Geocartography Knowledge Group Ltd. In the year since the start of the social protest, home prices fell 2-4% in Tel Aviv, Petah Tikva, Beersheva, and Rehovot, and by over 5% in Ashdod, Bnei Brak, and Netanya. However, home price rose by 2-3% in Jerusalem and Holon, and were unchanged in Haifa, Ramat Gan, and Rishon LeZion. "The social protest has had little effect on the market, but it brought demand to a halt," says Geocartography CEO Dr. Rina Degani. "Demand fell and is now recovering, but the number of transactions has averaged 7,500 a month in recent months, compared with an average of 8,500 transactions a month before the protest."
Published by Globes [online], Israel business news - www.globes-online.com - on July 10, 2012
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