They claim that in spite of efforts to increase the supply of apartments, the bank believes that demand will still outstrip supply in the near future.
Furthermore, the bank expects the inventory of homes for sale to remain low and so will interest rates,this will reflect further price rises, although at a much more moderate rate than in the last few years.
Sunday, January 30, 2011
Wednesday, January 19, 2011
Economists estimate 0.3-0.4% December inflation
Such an inflation rate is comfortable enough for the of Bank of Israel to keep the interest rate for February unchanged.
According to forecasts inflation in 2010 will be 2.6-2.7%, toward the upper limit of the government's 1-3% inflation target. The Central Bureau of Statistics will announce the CPI on 16/1/11
The housing item in the CPI (rent) is again drawing the most attention. This item stopped rising in the preceding two months, but analysts are hesitant to declare a new trend in the market. The housing item accounts for 21% of the CPI as a whole.
It is premature to say what the the Bank of Israel will do about the interest rate but it looks like it will choose to keep rate for February unchanged at 2%.
According to forecasts inflation in 2010 will be 2.6-2.7%, toward the upper limit of the government's 1-3% inflation target. The Central Bureau of Statistics will announce the CPI on 16/1/11
The housing item in the CPI (rent) is again drawing the most attention. This item stopped rising in the preceding two months, but analysts are hesitant to declare a new trend in the market. The housing item accounts for 21% of the CPI as a whole.
It is premature to say what the the Bank of Israel will do about the interest rate but it looks like it will choose to keep rate for February unchanged at 2%.
Monday, January 3, 2011
Housing minister markets land for 3,800 homes
Half of the apartments will be in Lod and Ramle.
Minister of Housing and Construction Ariel Atias announced the marketing of land for 3,800 housing units by the Israel Land Administration (ILA). Since October 2009, the ILA has marketed land for more than 24,000 apartments nationwide.Most of the land in today's announcement is not in high demand areas,land for 1,300 apartments in Lod and for 720 apartments in Ramle.The ILA is also marketing land for 140 apartments in Petah Tikva, 190 apartments in Rishon LeZion, as well as lots in Ness Ziona, Kafr Kassem, Modi'in, Kadima Zoran, Gedera, and Rosh Ha'Ayin.In the south, the ILA is marketing lots in Dimona, Ofakim, and Ashkelon, and in the north, in Haifa and in the Nazareth area.
Minister of Housing and Construction Ariel Atias announced the marketing of land for 3,800 housing units by the Israel Land Administration (ILA). Since October 2009, the ILA has marketed land for more than 24,000 apartments nationwide.Most of the land in today's announcement is not in high demand areas,land for 1,300 apartments in Lod and for 720 apartments in Ramle.The ILA is also marketing land for 140 apartments in Petah Tikva, 190 apartments in Rishon LeZion, as well as lots in Ness Ziona, Kafr Kassem, Modi'in, Kadima Zoran, Gedera, and Rosh Ha'Ayin.In the south, the ILA is marketing lots in Dimona, Ofakim, and Ashkelon, and in the north, in Haifa and in the Nazareth area.
Israel's economic growth in 2010 bests forecasts
Local economy expands by 4.5%, surpassing OECD average of 2.7%.
Israel's economy did better than expected, expanding by 4.5% this year, according to preliminary estimates. The average among the OECD nations is reportedly 2.7%.
While living standards apparently contracted in most of the West, here an index tracking the standard of living increased by 2.7% in 2010, officials from the Central Bureau of Statistics stated .
Israel's economy did better than expected, expanding by 4.5% this year, according to preliminary estimates. The average among the OECD nations is reportedly 2.7%.
While living standards apparently contracted in most of the West, here an index tracking the standard of living increased by 2.7% in 2010, officials from the Central Bureau of Statistics stated .
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