Figures published by the Central Bureau of Statistics, in cooperation with the Ministry of Construction and Housing, show that demand for new Israeli homes totaled 4,370 in August. 70% of these were sold on the open market, and the rest were built for use by the landowners themselves, set aside for groups of buyers, slated for renting, etc.
Demand in January-August 2015 was 33% higher than in the corresponding period last year.
27% of the demand for new apartments in the first eight months of the year was in the central district, while only 10% was in the Jerusalem district. Demand for new homes in the period grew by 75% in the southern district, 56% in the Haifa district, 41% in the Tel Aviv district, 33% in the Jerusalem district, 26% in the central district, and 11% in the northern district, compared with the corresponding period in 2014.
An examination of the trend figures show that the upward trend in demand continued in 2015. The increase averaged 0.4% per month in May-July 2015, much lower than the 3.5% average monthly growth in demand in January-April.
The survey also shows that a total of 23,000 new apartments were sold in the first eight months of the year, about the same number that were sold during all of 2014, and 63% more than were sold in January-August 2014.
Sales of new apartments in January-August 2015 grew 145% in the northern district, 107% in the southern district, 81% in the Haifa district, 50% in the Tel Aviv district, 48% in the central district, and 47% in the Jerusalem district, compared with the corresponding period last year.
Trend figures showed an average 0.6% monthly rise in new apartment sales in May-August 2015, following a 5.1% average monthly rise in January-April 2015.
Published by Globes [online], Israel business news - www.globes-online.com - on October 13, 2015
© Copyright of Globes Publisher Itonut (1983) Ltd. 2015