Taking out a mortgage in April 2024 was 28% higher than it was in April 2023.
There was a relatively high amount of mortgage take-up in April when the public took out loans worth NIS 5.91 billion despite the eight-day Easter holiday reducing the number of working days last month. Mortgage acceptance fell by 5% from NIS 6.2 billion in March, the Bank of Israel reports.
Recently published surveys by the Central Statistics Office and the Chief Economist of the Ministry of Finance as well as mortgage figures all point to a significant recovery in the housing market. Although the market has not returned to activity in 2021-2022, mortgage take-outs in April were still 28% higher than they were in April 2023.
Published by Globes, Israel Business News – en.globes.co.il – on May 12, 2024.
© Copyright Globes Publisher Itonut (1983) Ltd., 2024.
Housing construction in Ashkelon – Shutterstock/Yuri Dondish