Apartment prices in Israel are continuing to rise. The housing price index rose sharply by 1.7% in February, the Central Bureau of Statistics reported.
This is the eighth consecutive month that the index has risen and the renewed surge in home prices is causing concern to the new government and Bank of Israel, which are both considering more measures to cool the market.
Home prices rose 3.5% in January and February 2013 alone, and have risen 10.5% over the past year. The home prices index has risen by 80.7% since the wave of price rises began in 2007. The home prices index rose 1.8% in January 2013 and 1.2% in December 2012, and the index is now rising at its fastest rate since December 2010.
Published by Globes [online], Israel business news - www.globes-online.com - on April 16, 2013
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