The second quarter survey by "Global Property Guide" indicates signs of recovery in some residential real estate markets around the world.
The survey found that housing prices in Israel were 8.4% higher in the second quarter of 2009 than in the corresponding quarter of 2008 - the highest growth in any market in the survey.
Housing prices rose in the second quarter in seven countries where they had fallen in 2008: an increase of 3.73% in Australia whilst in New Zealand by 3.31%
Other countries with increases are:China, Portugal, France, Sweden, and Hong Kong .
Housing prices in most markets were still lower in the second quarter than in the corresponding quarter, indicating that the crisis in the global residential real estate market is not yet over.
Sunday, August 30, 2009
Monday, August 24, 2009
Israel's Minister of Finance: The Israeli economy is on the road to recovery
The positive indicators quoted by the Minister include, among others:
The large rises on the Tel Aviv Stock Exchange and other global stock markets
The 1% annualized growth in Israel during the second quarter of 2009
Higher direct and indirect taxes collected in June
The rise in the Bank of Israel's State of the Economy Index
The improvement in the industrial production index and production in the commercial sector
The large rises on the Tel Aviv Stock Exchange and other global stock markets
The 1% annualized growth in Israel during the second quarter of 2009
Higher direct and indirect taxes collected in June
The rise in the Bank of Israel's State of the Economy Index
The improvement in the industrial production index and production in the commercial sector
Monday, August 17, 2009
Israel's Gross Domestic Product(CPI) up 1% in second quarter
The Israeli economy seems to be pulling out of recession ,after two quarters of economic contraction.
In addition, Central Bureau of Statistics' figures also show that exports rose by an annualized 5.3% last quarter
The Bank of Israel is likely not to raise interest rate despite the CPI increase, since an interest rate hike would further strengthen the shekel, in turn hurting Israeli exporters further.
The official Bank of Israel interest rate at the moment stand at an all time low 05%
In addition, Central Bureau of Statistics' figures also show that exports rose by an annualized 5.3% last quarter
The Bank of Israel is likely not to raise interest rate despite the CPI increase, since an interest rate hike would further strengthen the shekel, in turn hurting Israeli exporters further.
The official Bank of Israel interest rate at the moment stand at an all time low 05%
Wednesday, August 12, 2009
State of the Israel economy and interest rates
Inflationary expectations for the next 12 months, as reflected in the capital market at the beginning of July, stand at 2.8%,
at the upper limit of the Government's inflation target for the year (which was from 1% to 3%).
As a result, the effective real annual interest on Bank of Israel sources is negative, at the rate of 2.5%.
at the upper limit of the Government's inflation target for the year (which was from 1% to 3%).
As a result, the effective real annual interest on Bank of Israel sources is negative, at the rate of 2.5%.
Monday, August 3, 2009
Record price paid for a penthouse(duplex) in Tel Aviv
The price paid for this property located on the 23rd floor, near the Dolphinarium ,in Tel Aviv was NIS 110 million! (approx $US 30 million)
This represents a cost per square meter of NIS 100,000 (approx $US 27,000)
Other record purchases were:
Hertzliah Pituach price paid NIS 96 million 1,000 sqm home (NIS96,000 per sqm)
Rotshild st. Tel Aviv price paid NIS 74 million 900 sqm apartment (NIS74,000 per sqm)
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