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.
Monday, October 11, 2010
Israel Ministry of Housing promotes building
Over the past nine months, the Ministry of Housing and Construction and the
Israel Land Administration (ILA) have run an aggressive media campaign to
flood the market with land zoned for thousands of new apartments in order to
lower housing prices. However, words are one thing; deeds are another.
The plan called to release land so that around 70,000 units would be built in order
to comply with the heavy demand (specially in the center of the country)
An investigation by a leading financial newspaper in Israel found that no
tenders were ever published for land for hundreds of apartments. Neither the
Israel land Authority nor the Ministry of Housing published the tenders, or
they published tenders for only a very small fraction of the promised homes.
Israel Land Administration (ILA) have run an aggressive media campaign to
flood the market with land zoned for thousands of new apartments in order to
lower housing prices. However, words are one thing; deeds are another.
The plan called to release land so that around 70,000 units would be built in order
to comply with the heavy demand (specially in the center of the country)
An investigation by a leading financial newspaper in Israel found that no
tenders were ever published for land for hundreds of apartments. Neither the
Israel land Authority nor the Ministry of Housing published the tenders, or
they published tenders for only a very small fraction of the promised homes.
Eyes on the floor .....Tips for renovating before selling.
Beyond location, price and size, a potential buyer looks at three parameters: floors, bathrooms and the kitchen, says interior designer Ariella Shneor, who also heads the Association of Interior Design Architects in Israel. "These three parameters translate in the eye of the buyer into expensive renovations".
Thursday, June 24, 2010
Government assitance to young couples and 1st time home buyers
The Housing Minister is proposing to the Knesset to introduce a cut on VAT (value added tax) currently 16% and a 20% mortgage refund over a 20 year span to young couples and 1st home buyers in the periphery.
Although the above measures will help the weakest sector of the population acquire their 1st home it does not provide a full solution to the continued increases in house prices mainly due to the fact that land prices sold by the Israel Lands authority to contractors remain very high whilst housing starts are very low compared to the actual demand.
Although the above measures will help the weakest sector of the population acquire their 1st home it does not provide a full solution to the continued increases in house prices mainly due to the fact that land prices sold by the Israel Lands authority to contractors remain very high whilst housing starts are very low compared to the actual demand.
Women decide what apartment to buy
According to a survey conducted by the Israel Building Center 78 % are behind the decision regarding buying apartments in new projetcs and 84% in purchasing homes in general.
88% are involved in the interior design aspects.
Now we know who dominates this industry.
88% are involved in the interior design aspects.
Now we know who dominates this industry.
Monday, May 3, 2010
Award to Bet Shemesh Mayor
The Interior Minstery,presented an award to Mayor Moshe Aboutbul for proper management of Bet Shemesh for 2009.
This is the first time that a Bet Shemesh mayor has ever won the award. Among efficient masures taken,now each department head to produce a four year work plan, something not done in the past
This is the first time that a Bet Shemesh mayor has ever won the award. Among efficient masures taken,now each department head to produce a four year work plan, something not done in the past
Israel's population stands at 7,509,000 million from the beginning of 2010
The Central Bureau of Statistics reported today. 75.4% of the population is Jewish, 20.3% Arabs, and 4.3% others (immigrants and their families who are not registered as being Jewish by the Ministry of Interior). During 2009, Israel's population grew by 1.8% - a rate of increase that has remained stable since 2003. Over the past year 160,000 babies were born in Israel, while 14,500 new immigrants came to the country - an increase over the 2008 figure of 13,700. Furthermore,the Jewish Agency reported that immigration in 2009 was higher than any of the past 10 years. As housing starts every year cannot match up to the pupulation growth, "the writing is on the wall" as regards to property prices in the country for the years to come. Settlement freeze ,if finally carried out, will add to the demand within the green line.
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