Record number of new homes purchased in May

Homes under construction Photo: Eyal Izhar

5,313 new homes were purchased in Israel in May, the Central Bureau of Statistics reports, an all-time record for one month.

In another indication that Israel's real estate market is booming as never before, 5,313 new homes were purchased in May, the Central Bureau of Statistics reports, an all-time record for one month.

May's figure was 60% higher than the average number of new homes bought in 2020 and 90% higher than the average number of new homes bought in 2019, and triple the average number of new homes bought each month in 2018. Since May 2020, the number of new homes bought has risen by an average of 2.3% each month.

At the current rate a record 50,000 new homes will be sold in Israel this year.

Ashkelon remains the city where most new homes are sold. Between March and May, 1,164 new homes were bought in Ashkelon, 849 new homes were bought in Tel Aviv, 849 new homes were bought in Jerusalem and 516 new homes were bought in Ramat Gan.

Published by Globes, Israel business news - en.globes.co.il - on July 14, 2021

© Copyright of Globes Publisher Itonut (1983) Ltd. 2021

Homes under construction Photo: Eyal Izhar
Homes under construction Photo: Eyal Izhar
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