The Ministry of Housing & Construction today published figures for the first time regarding home prices in 2012. The average price paid for a new Israeli home fell 3% in 2012 to NIS 1.4 million (a 5% fall in real terms). The average price paid for a second hand Israeli home rose 4% in 2012 (2% in real terms).
At the same time, the Housing Ministry published figures for the first time ever detailing home prices for the past five years in every city in Israel according to size. The figures show that home prices rose 112% in Ariel between 2008 and 2012. Over the same period apartment prices rose 76% in Beersheva, 89% in Beitar Illit, 91% in Tiberias, 84% in Karmiel, 65% in Kiryat Ata and 83% in Ramle.
Figures show that the average price of a home in Jerusalem rose from NIS 1.129 million in 2008 to NIS 1.526 million in 2012. The average Tel Aviv home rose from NIS 1.846 million in 2008 to NIS 2.549 million in 2012. The most expensive city in Israel was Ramat Hasharon where prices rose from NIS 1.909 million in 2008 to NIS 2.620 million in 2012. In Ra'anana prices rose from NIS 1.630 million in 2008 to NIS 2.051 million in 2012. In Haifa prices rose from NIS 1.024 million in 2008 to NIS 1.621 million in 2012. In Netanya prices rose from NIS 1.409 million in 2008 to NIS 1.655 million in 2012. In Rishon Lezion prices rose from NIS 1.213 million in 2008 to NIS 1.850 million in 2012. In Herzliya prices rose from NIS 1.641 million in 2008 to NIS 1.981 million in 2012.
In Beit Shemesh prices barely rose from NIS 975,000 in 2008 to NIS 1.017 million in 2012.
Published by Globes [online], Israel business news - www.globes-online.com - on March 6, 2013
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