House prices in TA and J'lem stay high, periphery starts to catch up.
Cities and areas in outlying places in Israel are continuing to attract the interest of home buyers as Israel real estate prices in traditional demand areas such as Jerusalem and Tel Aviv have been sky high and the supply of new homes has been narrowing.
Demand for the purchase of new homes in the southern region of the country surged by nearly 50 percent from the beginning of the year until the end of July compared with the same period last year. Another popular area of interest by home buyers was the Haifa region where demand for the purchase of new dwellings has risen by 21 percent in the first seven months of the year compared with the corresponding period of 2009. In the central region, quantity demanded of new dwellings sold grew by 3.5 percent in the reported period.
Against thistrend though, the least popular area for purchases of new homes was Judea and Samaria, where demand plunged by 67 percent in the January to July period compared with the same months last year.
Popular cities for homebuyers include Petah Tikva ,Ashkelon and Yavneh among others..
Demand for the purchase of new apartments on a national level continued to grow and increased by 1 percent in the first seven months of the year compared with the same period in 2009, according to the survey published by Israel’s Central Bureau of Statistics and the Housing and Construction Ministry.
Trend figures show that the supply of new homes in private construction for sale has been falling steadily over the past four years ,(whilst demand is increasing)from a level of around 14,000 homes at the beginning of 2006 to just over 9,000 at the end of July 2010.This is definitelly not helping is tabilizing prices.
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