In the first quarter of 2023, 20,189 homes were sold, 42% down from the first quarter of 2022 and 26% down on the fourth quarter of 2022, the Chief Economist of the Ministry of Finance reports.
In the first quarter of 2023, 20,189 homes were sold, 42% down from the first quarter of 2022 and 26% down on the fourth quarter of 2022, the Chief Economist of the Ministry of Finance reports.
This was the lowest quarterly figure for 20 years for housing deals, except for during the Covid lockdown in 2020 and the social protests in 2011. The Chief Economist also notes that 1,800 of the apartments sold during the first quarter of 2023 were within the framework of the Buyer Price government subsidy program.
Indications are that the number of housing deals will be even lower in the second quarter of 2023 with the number of deals falling from month to month in the first quarter. Another such indicator is that mortgage taking was very low in April.
Published by Globes, Israel business news - en.globes.co.il - on May 15, 2023.
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