Homes Sales and Prices on the Rise
A lot of potential buyers were sitting on the fence, waiting for the elections to finish and new government initiatives to materialize that would address the issue of affordable housing. But it seems they have decided to jump down and start buying, since prices continue to climb and there is not really so much relief coming from the government. The spike in purchase tax also caused a flurry of purchase activity during the quarter, as overseas investors rushed to conclude their purchase contracts before the new rates became effective.
According to a recent Globes article, a survey of 16 cities across Israel shows that property prices have risen 5% from a year ago. Be’er Sheva saw the biggest jump, with second quarter prices 14% higher than second quarter of 2014. As expected, cities in the center saw higher prices from 2014.
Northern Israel prices are also increasing, but it is still so much more affordable here than in the center of Israel. There are beautiful cities, moshavim, yishuvim, and kibbutzim to choose from. Be in touch and let us help you find your dream home. Or, buy your lot and build your own dream home in the Galil!