Sales of new apartments up sharply in September

Aura residential construction project / Photo: Eyal Izhar, Globes

Sales of new apartments in the third quarter was one of the highest in the last decade, the Central Bureau of Statistics reports.

Despite the holidays and second lockdown, sales of new apartments rose 69% in September compared with September 2019, the Central Bureau of Statistics reports. The third quarter in general saw the one of the highest number of new apartment sold of any quarter in the past decade. The Central Bureau of Statistics figures reflect those of the Ministry of Finance Chief Economist, which show that the trend during the Covid-19 pandemic was the opposite of what would be expected.

More than 10,000 new apartments were sold in third quarter of 2020 with more than 10% (1,030 apartments in Ashkelon). 598 new apartments were sold in Tel Aviv, 570 in Beit Shemesh, 483 in Rishon Lezion and 462 in Netanya. Many of these new apartments were sold as part of the government's Buyers Fixed Price program.

The large number of new apartments purchased in Ashkelon meant that more apartments were sold in the third quarter in the Southern District (2,644 apartments) than any other region, while 1,774 apartments were sold in the Tel Aviv district and 1,120 apartments in the Haifa District.

Published by Globes, Israel business news - en.globes.co.il - on November 12, 2020

© Copyright of Globes Publisher Itonut (1983) Ltd. 2020

Aura residential construction project / Photo: Eyal Izhar, Globes
Aura residential construction project / Photo: Eyal Izhar, Globes
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