Apartment sales hit 3-year record in August

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10,500 homes were sold in August, the Ministry of Finance Chief Economist reports.

The rise in the number of homes being sold in Israel, which began in June and July, continued in August, the Ministry of Finance chief economist has reported, following the reduction of purchase tax on second homes and the return of investors to the market.

In August 10,500 homes were sold in Israel, up 23% from August 2019 and up 8% from the preceding month. This was the highest figure for home sales for nearly three years and the highest August figure for 20 years.

Building contractors have reported a substantial increase in the number of homes they are selling. 4,000 new homes were sold in August, of which 1,500 were part of the government fixed price buyers program, and 2,500 were on the free market.

Published by Globes, Israel business news - en.globes.co.il - on October 27, 2020

© Copyright of Globes Publisher Itonut (1983) Ltd. 2020

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