Overall in the second quarter only 20,600 homes were purchased, the lowest quarterly figure since 2011, the Chief Economist at the Finance Ministry reports.
After the end of lockdown and government announcements in May that it had 'beaten Covid-19," homebuyers returned to the housing market in June. According to the Chief Economist at the Ministry of Finance, 10,900 homes were purchased in June, one of the highest figures for monthly real estate sales over the past 10 years and 16% higher than June 2019.
Nevertheless, because of the coronavirus pandemic, the second quarter of 2020, with just 20,600 home purchases overall, was the worst for housing purchases since the social protests in the final two quarters of 2011. In the second quarter, 53% of sales were to young couples, 36% to homebuyers moving up the ladder, and 11% to investors.
Published by Globes, Israel business news - en.globes.co.il - on August 11, 2020 © Copyright of Globes Publisher Itonut (1983) Ltd. 2020
real estate photo: Eyal Izhar