The average price of a four-room apartment crossed the NIS 1 million threshold for the first time.
Belying commitments by Minister of Housing and Construction Ariel Atias to reduce apartment prices in 2010, prices rose at beginning of the year.
Apartment prices rose 1.6% in January, the Central Bureau of Statistics (CBS)reported last week
Property prices in Israel have been rising steadily since January 2009 by 19% in the 12 months through January 2010. The CBS reports that the average apartment price at the end of December 2009 was NIS 929,500. The average price of a four-room apartment, the most common size among Israeli homebuyers, crossed the NIS 1 million threshold for the first time, to NIS 1.02 million.
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