New home sales in Israel hit a 10-year high

The government’s customer support program helped.

What happened? From August to October 2020, 10,550 new housing units were sold in Israel, of which 4,000 were sold in October alone, Globes writes about this with reference to the Israel Central Bureau of Statistics.

Record. According to statistics, sales of new buildings during this period remain at the highest level in the last 10 years. Moreover, the figure for October was only slightly lower than the number of homes sold in June, which became a record over the past decade.

Geography. The most popular places to buy new homes from August to October were cities that had a government fixed-price program for buyers. There were sold 926 apartments in Ashkelon, 566 apartments in Beit Shemesh, 466 apartments in Tel Aviv, 426 apartments in Beer Sheva, 411 apartments in Harish, 406 apartments in Rishon LeZion and 395 apartments in Ramat Gan.

Perspectives. Despite record sales of new buildings, the real estate market as a whole does not feel very well during the pandemic: the number of transactions, and the pace of construction, and prices are falling.

Read also: Practice: how are real estate transactions in Israel

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Author: Chief Editor