The Marker, Hadar Horesh, 14.01.2021
Despite the closure and the holidays, sales of new apartments soared in September-November, according to data released today (Thursday) by the Central Bureau of Statistics (CBS). According to the data, 11,360 apartments were sold by contractors during this period - a jump of 7.3% over the three months Previous.
Seasonally adjusted, the increase is 15.7% compared to the previous three months. In November alone, when 3,954 new apartments were sold, there was stability compared to the previous month (October) and an increase of 21% compared to the corresponding month in 2019, before the outbreak of the corona plague.
The city that led the sale of new apartments was Ashkelon, where 793 apartments were sold in September-November. Ashkelon also led in the previous quarter (June-August) with 773 sales of new apartments. Tel Aviv came in second place in September-November, with 563 apartments - a slight decrease of 3% compared to the previous quarter. In third place - Rishon Lezion, with sales of 552 apartments and a jump of 23% compared to the previous quarter. A surprising revival was recorded in plowing, in which 433 new apartments were sold - three times the previous quarter.
Delilah Beach Ashkelon, a park on Delilah Beach Photo: Ilan Asaig
The inventory of unsold dwellings held by contractors decreased by 4.5% in September-November 2020 compared to the three months preceding them, and amounted to 38,460 dwellings. The declining inventory data may indicate an expected decline in the supply of apartments, so this is another warning sign for the weakening of supply against demand and rising prices - activists in the construction industry have been warning about it for some time.
CBS data indicate a revival in the dormant market of rental housing. According to the data, construction starts for rent were 13.4% of the total construction starts in the quarter - most in the central region. In the Central District in September-November no less than 325 construction starts for rental apartments - 37.8 Most of the apartments, 325, were built in Netanya. In the Tel Aviv district - the most sought after in the rental market - construction began on 92 apartments for rent, and in the northern district 34.
The field of long-term rental housing is one of the fastest growing in the industry - given the removal of apartment prices from the reach of many families, the high demand, tax benefits and benefits provided by the state under housing tenders. These have already led some companies to enter the field of rental housing, including regions ( + 1.51% in 1073 ) , PRASHKOVSKY ( -0.33% 9859 ) , Azrieli ( + 2.25% 20910 )and REITs.
The field of purchasing groups continues to be a tiny part of the housing industry in Israel. In September-November, only 4.8% of construction starts were in this framework.