NIS 7.013 billion in mortgages was taken in Israel in August 2023, the Bank of Israel reports, down 27% from August 2022. This figure hints at a market recovery as it is the first time that the monthly mortgage taking figure has exceeded NIS 7 billion this year. Even so, mortgages taken in the first eight months of 2023 amounted to the lowest figure for the period since 2019. Mortgages totaling NIS 50 billion were taken in the first eight months of 2023, down 44% from the corresponding period of 2022 and down 32% from 2021. RELATED ARTICLES Mortgage bankers detect recovery in housing market Mortgage taking in Israel down 45% in June Mortgage bankers and real estate brokers have recently testified that they have seen an improvement in demand for apartments, but so far this has not been reflected in numbers. The volumes of apartment bought between January and July 2023 was very similar to the number recorded during the major real estate crisis during the recession 20 years ago, and are about 40% below market volumes from a year ago. Published by Globes, Israel business news - en.globes.co.il - on September 13, 2023. © Copyright of Globes Publisher Itonut (1983) Ltd., 2023.
