Demand for new homes in Israel remains high

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Sales of new homes in Israel increased by 17.3% in January 2016 compared to December 2015.

In January 2016, 4360 new homes in Israel were sold, of which approximately 68% were for purchased by buyers for residential purposes and the remaining 32% were bought for other purposes including investment, purchasing groups, rental programs, etc.  Thus indicates preliminary data from a survey run by the Central Bureau of Statistics on building starts and new-home sales. The survey applies only to apartments where building permits have been given and construction is underway.

According to the data, almost 3000 new homes were sold for direct residential purposes—an increase of 12.5% ​​compared to January 2015 and an increase of 17% compared to the previous month, December 2015 in which 2538 were sold.

Tel Aviv saw an increase of 37% in the demand for new homes compared to the same period last year. However, there was a decrease of 32% in demand in Jerusalem and 21% in the Haifa District.

A surge of 128% occurred in the Southern region compared to January 2015 because of the many building starts including the projects through the “mechir lemishtaken” program that the government has introduced.

Approximately 29,750 new apartments remain available for sale, of which around 36% are located in the Central District of Israel.

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