New home sales in Israel up 21% in Q1

Israel's housing market has set back five years in terms of the number of new homes sold but at 40% higher prices, according to figures published by the Central Bureau of Statistics for the first quarter of 2024. In the first quarter, Ashkelon stood 861 new homes were sold, an increase of 151%. For the fourth quarter of 2023. In Netanya, 123% more new homes were sold, in Ashdod by 117%, and in Tel Aviv by 108%.

The city where the most new homes were sold in the first quarter of 2024 is Jerusalem, where 1,328 homes were sold, an increase of 30.8% over the fourth quarter of 2023. In Haifa, 1,073 new homes were sold, an increase of 55%, and in Beersheba, 1163 new homes. 88.2% sold. In fourth place was Tel Aviv with 1,021 new homes sold, an increase of 108%.

The upward trend in new homes sold began in December 2023 and has gotten stronger since then.

According to the Central Bureau of Statistics, 23,250 new homes were sold in the first quarter of 2024, an increase of 21% from the first quarter of 2023. New home sales are rising at a monthly rate of 3.7%.

Published by Globes, Israel Business News – en.globes.co.il – on May 12, 2024.

© Copyright Globes Publisher Itonut (1983) Ltd., 2024.