Tel Aviv housing prices triple those in Beersheva

Tel Aviv apartments

It costs three times as much to rent or buy in Tel Aviv compared with Beersheva, the Central Bureau of Statistics reports.

The average price of a residential room in Tel Aviv is NIS 969,000, the highest in Israel, and triple the NIS 298,000 average price of a room in Beer Sheva. The average monthly rent for a room in Tel Aviv is NIS 1,910, compared with NIS 715 per month in Beer Sheva, according to a 2018 Central Bureau of Statistics survey of the 16 largest cities in Israel.

The survey contains data on housing and housing expenses in Israel's main cities. For example, the proportion of households living in dwellings that they own is 66.5%, compared with 28% living in rented facilities (the rest live in collectively owned housing, such as kibbutzim, senior citizens' homes, and assisted living facilities). In Tel Aviv, on the other hand, 53% of households live in rented facilities, the highest proportion in Israel. In contrast, 76% of households in Beit Shemesh live in dwellings that they own, the highest proportion of home ownership in Israel.

The average monthly mortgage payment in Israel is NIS 3,617. Unsurprisingly, the highest average monthly mortgage payment, NIS 5,962, is in the most expensive place, followed by Holon with NIS 4,714, Rehovot (NIS 4,689), and Ramat Gan (NIS 4,506).

Housing density in large cities in Israel is quite low, except for cities in which haredim (ultra-Orthodox Jews) constitute a large proportion of the population. Housing density in Bnei Brak, Jerusalem, and Beit Shemesh is higher than one person per room, while the average housing density in other large cities is less than one person per room.

The missile threat has focused attention on the subject of security rooms more than once. Construction of security rooms in Israel began only in the 1990s, but only 39.1% of households have a security room. In cities featuring new construction, headed by Beit Shemesh, there is a high proportion of housing with security rooms. In most cities, however, old homes have not been reinforced or had security rooms added to them. Only 10% of households in Bat Yam have security rooms, one fifth of households in Jerusalem, 23.5% in Tel Aviv, and a quarter of households in Haifa.

Published by Globes, Israel business news - en.globes.co.il - on December 24, 2019

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

Tel Aviv apartments
Tel Aviv apartments
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