According to new data published by the Israel Central Statistics Office, the home buying and selling market in the country continues to rise and expand.
This is a trend that was seen for most of the year, which contrasts with a decreasing trend that occurred for most of 2023.
During April and May 2024, home prices increased by 0,8% compared to the previous two months, marking the sixth time since November 2023. Compared to the same period last year, prices have risen by 3,4%.
According to data from the Ministry of Finance, a total of 7.908 homes were sold in May of this year, which represents an increase of 28% compared to the same period last year.
It is already almost impossible to buy a house or apartment in Israel. In the south of the country, a little more than 20 years ago, with 400 thousand shkalim you could buy a 3 room, today it is unthinkable.
I believe that the value of the monetary income of the Israeli population, in the last 20 years, increased more than the value of homes in that same period; That must be the reason why, when buying a home with a long-term loan, the value of the monthly payment is similar to the value of the monthly rent that that home would have. When you finish paying it is yours and if you rent you have nothing.