27,000 homes were bought in Israel in the final quarter of last year, the Ministry of Finance reports.
28,000 homes were bought in Israel in the fourth quarter of 2015, up 17% from the third quarter, the Ministry of Finance reported in its quarterly review of residential real estate. The figure is similar to the number of homes sold in the corresponding quarter of 2014.
The Ministry of Finance reported that there was a rise of home sales in all regions of the country in the fourth quarter of 2015 compared with the preceding quarter. However, the level of increase was relatively high in peripheral regions and relatively low in the center of the country.
The figures show that 40% of the rise in home sales came from purchases of apartments by investors. However, the Finance Ministry points out that purchases by investors were in a different and non-competing market segment to first time homebuyers and those moving up to larger apartments. Overall 20% of homebuyers in the fourth quarter were buying a home for investment.
Published by Globes [online], Israel business news - www.globes-online.com - on March 28, 2016
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