The number of housing starts in Israel in the fourth quarter of 2015 shows a rise in comparison with the previous quarter and with the corresponding quarter of 2014, according to figures released by the Central Bureau of Statistics yesterday. Construction started of 11,546 housing units in Israel in the fourth quarter of 2015, which compares with 11,216 starts in the previous quarter (up 3%) and 11,255 in the fourth quarter of 2014 (up 2.5%).
In 2015 as a whole there were 47,746 housing starts, 4% more than in 2014, when the figure was 45,972.
99.4 thousand housing units are under construction according to the Central Bureau of Statistics figures, a number not seen since September 1997. The number of units under construction has been steadily rising for some time, although it is important to note that construction time is also on the rise so that it is not necessarily possible to conclude that there is a rise in the rate of supply.
In the breakdown by region, there were rises in the number housing starts in 2015 compared with 2014 in the Jerusalem region (1.1%), the north (6.9%), the Tel Aviv region (8.4%), the south (47.5%), and Judea and Samaria (26.2%). In Haifa and in the central region there were declines, of 8.1% and 11%.
The highest number of building starts last year was in Jerusalem itself. Construction began on 2,321 housing units in the city, although this represents a decline of 9% in comparison with 2014.
In second place is Tel Aviv-Yafo, where there were 2,321 starts in 2015, although here too the number was lower than in 2014, by 3%.
In third place is Afula, where construction started on 1,530 housing units in 2015. This is 150% more than in 2014, which is not surprising in the light of the extensive land sales in Afula in recent years, which are now being translated into housing construction.
Published by Globes [online], Israel business news - www.globes-online.com - on March 24, 2016
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