March 2020 saw the lowest number of housing sales since the social protests against the cost of living in 2011 but April will likely be far worse.
Only 6,600 homes were sold in Israel in March according to the latest survey by the Chief Economist at the Ministry of Finance. This figure is 29% lower than February and 32% lower than March 2019.
March 2020 saw the lowest number of housing sales since the social protests against the cost of living in 2011. Nevertheless, the figure for housing deals in April, when the coronavirus crisis was at its peak, is expected to be far worse, probably an historic low.
The fall in housing sales in March was led by new homes, which was down 40% from March 2019.
Published by Globes, Israel business news - www.globes-online.com - on May 14, 2020
© Copyright of Globes Publisher Itonut (1983) Ltd. 2020
Kiryat Ono apartments