Yael Drel, The marker, 07.01.20

While the government has been concentrating on the prices of new apartments in recent years, which constitute only about 30% of the housing market - it appears that 2019 ended with fairly significant price increases in the second-hand apartment segment compared to the previous year - in most parts of Israel. The RE / MAX brochure summary data for 2019, presented at a press conference in Tel Aviv, shows that there has been a significant rise in prices in second-hand apartments in a number of northern cities - including Safed, Tiberias, Carmiel. The same is true in other cities such as Jerusalem, Tel Aviv, Modi'in and Lod.

The figures show that in Safed, for example, there were dramatic price increases of about 14.3% for 2-room apartments, along with an 8.3% increase in the 3-room apartment segment and 13.6% for 5-room apartments. According to the network, similar prices have risen in Tiberias, 10.4% for 3-room apartments and 10.9% for 4-room apartments. Significant price increases were also recorded for 5-room apartments and garden apartments.

Carmiel recorded moderate price increases of 4.5% for 4-room apartments and 2% for 5-rooms in the city, according to the transactions carried out on the network. The larger apartments (6 rooms and penthouses) have increased by more significant rates.