Israel's Government Assessor today published a survey of the average price of four-room apartments in Israel's 16 largest cities, showing that prices rose 1.4% in the third quarter of 2015. This is in complete contradiction to the Ministry of Construction and Housing data, which shows prices falling in the second quarter.
The latest data shows not only a continued rise in prices but also there is nowhere in the country where it is possible to buy a four-room apartment for less than NIS 1 million. In the third quarter of 2015, the average price of a four room apartment in Beersheva rose 4% to NIS 1.012 million, by 5% in Ashkelon to NIS 1.052 million, and by 4% in Eilat to NIS 1.034 million.
During the third quarter, the price of an average four room apartment in Herzliya rose 3% to NIS 2.244 million but fell 2% in Tel Aviv to NIS 2.709 million. There was a 7% fall in Jerusalem to NIS 1.868 million.
The Government Assessor said that there was a fall in the number of deals in the third quarter but nevertheless, the overall average price rose.
Published by Globes [online], Israel business news - www.globes-online.com - on November 22, 2015
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