The number of residential real estate deals in Israel fell 25% in September. The Ministry of Finance today published its weekly review, which focuses on residential real estate. The review reported that 6,600 apartments were purchased in September, 20% fewer than in the preceding month. The decrease is partly attributable to the Jewish holidays in September, but it is nevertheless the lowest monthly number for such deals since April 2014, when the wait for the 0% VAT plan began.
The Ministry of Finance also reported that an initial analysis of deals in October indicates a low number of deals in this month also. The average number of deals in September-October this year is the lowest since September-October 2011, when the social protest was taking place.
In addition, according to the survey, purchases of apartments by investors in September totaled only 1,200, the fewest since October 2005.
Published by Globes [online], Israel business news - www.globes-online.com - on November 29, 2015
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