The Central Bureau of Statistics reports that 22,610 housing transactions were recorded between March and May 2024, an increase of 37% over the same period in 2023 and an increase of 2.7% over the previous three months. An exceptionally high 47.4% of the homes sold were new homes, and 20% of these new homes were sold in government-subsidized programs.
The number of new homes sold between March and May 2024 was up 63.7% compared to the same period last year and 1.7% higher than the previous three months. The number of used homes sold between March and May 2024 was up 19.4% compared to the same period last year and 3.4% higher than the previous three months.
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Jerusalem continues to lead the list of residential transactions in Israel, with 1,404 homes sold between March and May 2024, including 575 new homes. Tel Aviv came in second with 1,122 homes sold, including 662 new homes – the highest number of new homes sold in the country during this period – an exceptional statistic considering the high prices. The number of new homes sold in Tel Aviv between March and May 2024 increased by 35% compared to the same period last year.
In third place came Beersheba, where 1,094 homes were sold between March and May 2024, including 352 new homes. In fourth place came Haifa, where 1,051 homes were sold, including 261 new homes. In fifth place came Petah Tikva, where 965 homes were sold, including 539 new homes. In sixth place came Ashkelon, where 903 homes were sold, including 503 new homes.
The top ten cities on the list were Rishon LeZion, 655 (318 new homes), Ashdod, 654 (344), Netanya, 642 (337), and Ramat Gan, 509 (286).
This article was published in Globes, Israeli Business News – en.globes.co.il – on July 14, 2024.
© Copyright Globes Publisher Itonut (1983) Ltd., 2024.
