New home sales in Israel hit three-year low

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New dwelling profits in Israel have strike a three-yr low, the Central Bureau of Figures experiences. 2,780 new residences had been bought in August 2022, down almost 50% from August 2021 and down 50% from August 2020. In July 2022, the number of new residences acquired was down 45% from July 2021.

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New home revenue have been slipping by an typical of 2.8% per month given that October 2021. The quantity of new homes acquired in August 2022 was equivalent to the month-to-month figures of the first 50 percent of 2019. New dwelling product sales are anticipated to have continued falling all through the holiday months of September and Oct 2022, and it is probable that new property revenue concentrations will attain the low degrees of 2018.

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Central Bureau of Statistics knowledge show that obtain specials for new flats in Israel are slipping quicker than for next-hand residences. At the similar time the falling variety of new apartments marketed is growing the offer and stock of offered new, which achieved 49,300 new residences at the close of August 2022, the maximum selection considering the fact that June 2020.

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An additional stunning figure was that for the to start with time in lots of several years the most important variety of new flats is becoming marketed in Jerusalem. Concerning June and August 2022, 581 new residences were being bought in Jerusalem, followed by 513 new residences in Netanya, 506 new flats in Tel Aviv, 388 new residences in Lod, 380 new flats in Beit Shemesh, and 352 new residences in Rishon Lezion.

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Posted by Globes, Israel company news – en.globes.co.il – on October 18, 2022.

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© Copyright of Globes Publisher Itonut (1983) Ltd., 2022.

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