There was a major rise in the number of new apartments sold in Israel in January 2016, compared with the previous month, the Central Bureau of Statistics reports. 2,978 new homes were sold in January, up 17.3% from the 2,538 homes sold in December 2015, and up 12.4% from the 2,648 new homes sold in January 2015.
The number of new homes has risen significantly from January 2015, even though sales were strong after former Minister of Finance Yair Lapid's 0% VAT plan on new homes had been canceled towards the end of 2014, boosting sales with disappointed buyers who had been waiting for months in vain in the hope that the tax cut would be implemented.
The current government buyer's price program also had little impact on the January figures. The plan is aimed at first-time homebuyers while most buyers in Israel either already own a home and are buying something bigger, or are buying a second home as an investment.
There were more new homes sold in every district of Israel in January 2016 except two Jerusalem, and Judea and Samaria. In Jerusalem, 212 new homes were sold in January 2016, compared with 258 homes in December 2015. In Judea and Samaria 69 new homes were sold in January 2016, down from 170 in December 2015.
The Bank of Israel reported that mortgages worth NIS 4.749 billion were taken in January 2016, up from NIS 4.572 billion in the corresponding month of 2015, but down from NIS 5.635 billion in the preceding month.
Published by Globes [online], Israel business news - www.globes-online.com - on March 7, 2016
© Copyright of Globes Publisher Itonut (1983) Ltd. 2016