September 13, 2021

Bat Yam most popular as new home sales hit all-time high

Globes, Arik Mirovsky, 13.09.2021

July was the third consecutive month in which new home sales in Israel topped 5,000, the Central Bureau of Statistics reports. 15,220 new homes were purchased between May and July 2021, an unprecedented quarterly figure, up 40.3% from the preceding three months (February-April 2021) and up 30% from the corresponding period of 2020.

Bat Yam was the most popular city for housing purchases between May and July 2021, due to its urban renewal project, with 1,079 new homes purchased. In second place was Tel Aviv with 974 new homes purchased, followed by Ashkelon with 940 apartments, Jerusalem with 731 apartments, and Bnei Brak with 643 new apartments.

In terms of regions 51% of new homes sold between May and July were in the Greater Tel Aviv Metropolitan region, 16% were in the south, 12.5% in Haifa, 10% in the north, 8% in Jerusalem, and 2.5% in Judea and Samaria.

At the end of July only 47,740 apartments were left in the inventory of new homes for sale, a low figure, which was 7% down from the number at the end of July 2020.

Published by Globes, Israel business news - en.globes.co.il - on September 13, 2021