The housing market in Israel is sliding into recession with Tel Aviv in sales of new apartments, but it also has the largest number of new homes, while Haifa is leading in the sales of used homes, according to the latest central statistics numbers in housing deals in January 2025.
Central Statistics Office data shows that Tel Aviv leads to selling new homes. Between November 24 and January 25, 871 apartments were sold in the city, followed by Jerusalem with 767 apartments sold, Offakim with 760 apartments and Lod, with 686 new apartments.
Tel Aviv also leads to apartment supplies. The city includes 8,975 new apartments, before Jerusalem with 7,354 uneven apartments, Bat Yam with 4,137, RAM Gan with 3,543, and Nitrita with 3,381 new apartments not sold.
Large cities that have the lowest supply of new apartments are KFAR SABA, with 426 new apartments from an apartment, Herzlia with 838 apartments, Holon with 947 apartments, and hadera with 959 uneven apartments.
About 60 % of the apartments purchased in Tel Aviv were new apartments, making it the leading city where buyers are looking to buy apartments from new projects instead of used homes. This position usually describes the cities in the ocean, as most of the new apartments deals are part of the government -backed programs for buyers for the first time.
In the sale of used apartments, Haifa leads 935 apartments sold there between November 2024 and January 2025, followed by Jerusalem with 908 apartments, Persiva with 860 apartments, Tel Aviv with 604 apartments, and Ashkelon with 493 used apartments sold.
Providing new apartments again at record levels
In general, the supplies of the new apartments that are not sold reached about 78,000 new apartments in January, equivalent to 18 months of construction, and continued to break the records, despite the difficult situation of real estate developers, who start new projects even before they could sell apartments in their previous projects. This issue is due to the obligations in urban renewal projects and projects that include apartments sold in government -backed housing programs.
The large supplies of apartments are not only in big cities. Smaller cities also contain very large supplies of apartments, relative to the size of the local market: in the yaakov beer, there are 2460 uncomfortable apartments, in Lod 2,250, in Kiryat ono 1,460 apartments and in Ra'440. This is an unusual situation, especially since some of these cities have high levels of demand until recently.
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The direction of this market, which was shown by the data of the Central Office of Statistics data, is compatible with data from the Ministry of Finance data and mortgage trends that were informed by the Bank of Israel.
It seems that the month of June 2024 is the month of water gatherings on the market, with the impact of real estate developers who are now buying offers later decreasing, and despite the decline in buyers to buy new apartments in December 2024 to avoid increasing value -added tax, cracks in cracks deteriorate and increase the supply of apartments quickly. Since June 2024, the data indicates that the number of new apartments sold every month has decreased by 3 % from the previous month.
It was published by Globes, Israel Business News – En.globes.co.il – on March 12, 2025.
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