Israel's housing market has gone back five years in terms of the number of new homes sold but at prices that are 40% higher, according to figures published by the Central Bureau of Statistics for the first quarter of 2024. In the first quarter, Ashkelon stood out with 861 new homes sold, up 151% from the fourth quarter of 2023. In Netanya 123% more new homes were sold, in Ashdod 117% more and in Tel Aviv 108% more.
The city where most new homes were sold in the first quarter of 2024 was Jerusalem with 1,328 homes sold, up 30.8% from the fourth quarter of 2023. In Haifa 1,073 new homes were sold, up 55%, and in Beersheva 1,163 new homes were sold, 88.2%. In fourth place was Tel Aviv with 1,021 new homes sold, up 108%.
The trend in the rise in new homes sold began in December 2023 and has been strengthening since.
According to the Central Bureau of Statistics, 23,250 new homes were sold in the first quarter of 2024, up 21% from the first quarter of 2023. New homes sales are rising at a monthly rate of 3.7%.
Published by Globes, Israel business news - en.globes.co.il - on May 12, 2024.
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