A decline in new apartment purchases, and a peak in apartment supply, with Netivot in the Negev leading the chart for new home sales in March-May 2023, according to the Central Bureau of Statistics.
In May, 2,176 new apartments were sold, one of the lowest monthly figures in recent years, down 50% from May 2022 and an even larger drop than May 2021. However, in May 2023 there was a 47% increase over April 2023, which was a figure down due to the Easter weekend.
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At the moment, the number of real estate deals has dropped sharply but prices have not yet fallen significantly.
But between March and May 2023, Netivot was the Israeli city where the most new homes were sold – 448 – down 6.7% from the previous three months. In second place was Ashkelon, with 420 new homes sold, up 40.5% from the previous three months. Jerusalem ranked third with 410 new homes sold, down 56.1% from the previous three months, followed by Beersheba, up 72.5% from the previous three months, and Rishon Lezion with 279 new homes sold, up 48.1%.
The top 10 is rounded out by Petah Tikva (277, down 19.4%), Tel Aviv (245, down 3.8%), Netanya (178, down 25.3%), and Haifa (171, down 26.4%).
Published by Globes, Israel business news – en.globes.co.il – on July 13, 2023.
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