Housing costs fell in Israel 0.3% in July-August, the Central Bureau of Statistics reviews, however the declines have been a lot sharper in Tel Aviv.
Housing costs in Israel have begun to fall the Central Bureau of Statistics has reported. Housing costs fell by 0.3% in July-August after rising by 1% in June-July and rising 0.4% in Could-June. Housing costs have now risen by 2.3% over the previous 12 months.
The autumn in housing costs was led by the Tel Aviv area the place housing costs fell by 1.2% in July-August, the steepest fall prior to now two years. Whereas it’s too early to establish a development, the autumn in costs adopted the sharp fall within the variety of properties being offered, in all probability as a result of ongoing Covid-19 pandemic. In Tel Aviv in July, the variety of residences offered was down 30% in contrast with July 2019.
Throughout the first lockdown between March and mid-Could housing costs fell 0.7% with costs recovering between mid-Could and July.
Exterior of Tel Aviv, housing costs fell a extra average 0.4% in Haifa in July-August and fell 0.1% within the southern area, 0.7% within the central area, and 0.4% within the northern area.
Revealed by Globes, Israel enterprise information – en.globes.co.il – on October 18, 2020
© Copyright of Globes Writer Itonut (1983) Ltd. 2020
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