Israelis took mortgages worth almost NIS 10 billion in January 2022, according to figures published by the Bank of Israel.
Israelis took mortgages worth almost NIS 10 billion in January 2022, according to figures published by the Bank of Israel.
This amount is 18% below the record amount of mortgages taken in December 2021 and the lowest monthly mortgage taking figure since June 2021, (except for September 2021 during the High Holydays), it is still 35% higher than the NIS 6.5 billion in mortgages taken in January 2021, and higher than the monthly average in 2020.
Although these are only preliminary figures, it is almost certain that most the mortgages were taken by first time buyers and those moving up to larger or better homes with many people buying second or additional homes as investments moving out of the market because of the 60% hike in the lowest purchase tax bracket at the end of November 2021, as the government attempted to cool the housing market.
Published by Globes, Israel business news - en.globes.co.il - on February 13, 2022.
© Copyright of Globes Publisher Itonut (1983) Ltd., 2022.
Mortgages Photo: Shutterstock