On the day that Uri Ariel hands over the Ministry of Construction and Housing to Yoav Galant, the Government Assessor at the ministry of justice Tal Alderottti has published home price figures for the first quarter of 2015.
The figures show the average price of a four room apartment rising in most Israeli cities. The price of an average four room apartment rose 1% in Jerusalem to NIS 1,902,000 in the first quarter of 2015 and has risen 7% since the corresponding quarter. The average price of a four room apartment rose 2% in Haifa to NIS 1,337,000 and has risen 6% since the corresponding quarter. In Modi'in, the average price of a four room apartment rose 3% to NIS 1,670,000 in the first quarter and 6% since the corresponding quarter. In Rehovot, the average price of a four room apartment rose 1% to NIS 1,396,000 in the first quarter and has risen 3% since the corresponding quarter.
However, the average price of a four room apartment was unchanged in Tel Aviv at NIS 2,737,000 in the first quarter and unchanged since the corresponding quarter. In Netanya, the average price of a four room apartment was unchanged at NIS 1,457,000 in the first quarter and has risen 6% since the corresponding quarter. In Rishon Lezion, the average price of a four room apartment was unchanged at NIS 1,567,000 in the first quarter and has risen 5% since the corresponding quarter. In Herzliya, the average price of a four room apartment was unchanged at NIS 2,053,000 in the first quarter and has risen 2% since the corresponding quarter. In Petah Tikva, the average price of a four room apartment was unchanged at NIS 1,470,000 in the first quarter and has risen 3% since the corresponding quarter.
There are only three major cities left in Israel where the average four room apartment is worth less than NIS 1 million - Eilat (NIS 978,000), Ashkelon (NIS 963,000), and Beersheva (NIS 932,000).
Nationwide, the average price of a four room apartment rose 1% in the first quarter of 2015, and 4% over the past 12 months.
Published by Globes [online], Israel business news - www.globes-online.com - on May 17, 2015
© Copyright of Globes Publisher Itonut (1983) Ltd. 2015