New home sales in Israel continue to rise

New homes in Harish Photo: Shlomi Yosef

2,680 new homes were sold in August, 52% more than in August 2018.

2,680 new homes were sold in August 2019, 52% more than in August 2018. 8,160 new homes were sold in June-August 2019, 50% more than in the corresponding period last year and 11% more than in the three preceding months.

The Central Bureau of Statistics published figures today showing that the leading cities in new home sales were those in which the Buyer Fixed Price Plan or construction of discounted housing units were dominant: Harish (436 new homes sold), Or Akiva (434), and Beer Sheva (407).

The Buyer Fixed Price Plan projects now ready were won by buyers two years ago. As a result, the number of deals taking place now is especially large. Since the beginning of the year, 10,000 deals for Buyer Fixed Price Plan apartments have been signed, reaching a peak in the recent months, when the number reached 1,500 deals a month. Furthermore, new homes are also being sold relatively quickly on the open market, compared with 2018. According to the trend, the number of new homes sold since April 2018 has risen by 2.6% a month.

A large proportion of the leading cities in sales of new homes in June-August 2019 are identified with Buyer Fixed Price Plan apartment sales and sales of discounted new homes. Following Harish, Or Akiva, and Beer Sheva, next on the list are Tel Aviv and Jerusalem with 381 new homes sold each, Ramat Gan (378 new homes), Yavne (307), Kiryat Ono (264), Rishon Lezion (247), and Beit Shemesh (238).

The Tel Aviv district, which is experiencing a large construction wave as a result of Buyer Fixed Price Plan projects in Or Yehuda and Glil Yam and Tama 38 projects in various cities in this district, was also the leading district in purchases of new homes with 688 sold, ahead of the Central District with 638 new homes.

Published by Globes, Israel business news - en.globes.co.il - on October 10, 2019

© Copyright of Globes Publisher Itonut (1983) Ltd. 2019

New homes in Harish Photo: Shlomi Yosef
New homes in Harish Photo: Shlomi Yosef
Twitter Facebook Linkedin RSS Newsletters גלובס Israel Business Conference 2018