Record housing deals ahead of tax hike for investors

Tel Aviv Photo: Shutterstock

A record number of homes were sold in Israel as investors scrambled to beat the purchase tax hike, the Finance Ministry chief economist reports.

There was a record number of housing deals in November 2021, the Ministry of Finance chief economist reports. 18,200 homes were sold in Israel in November as investors scrambled to beat the purchase tax hike for buyers who already own one property.

6,700 of the homes bought in Israel in November were by investors, bringing the number of homes brought by investors to 12,000 in October and November 2021. Young couples and first time buyers were also active on the market in November, buying 6,100 homes, up 23% from November 2020. This figure included 1,200 homes as part of the government's Mechir Lemishtaken (Price Target) program.

Tel Aviv was the most popular city for real estate investors in November 2021 with 800 homes sold there, followed by Jerusalem (520), Haifa (380), Beersheva (270), Bat Yam (260), Ramat Gan (250), Ashkelon (240), and Netanya (230).

Published by Globes, Israel business news - en.globes.co.il - on January 18, 2022.

© Copyright of Globes Publisher Itonut (1983) Ltd., 2022.

Tel Aviv Photo: Shutterstock
Tel Aviv Photo: Shutterstock
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