A report by the Central Bureau of Statistics, released earlier this week, provides an overview of the new apartment market’s activity during the third quarter of the year.
After experiencing a consistent decline of 3.7% per month on average from September 2021 to March 2023, there was a noticeable change in April 2023. The new apartment market saw a monthly increase of 2% in transactions until the beginning of the war on October 7.
Additionally, the CBS report highlights that 7,710 new apartments were sold in the third quarter (July-September 2023), marking a significant 14.1% increase compared to the second quarter (April-June) when 6,760 apartments were sold.
However, there are concerns about whether the ongoing war will hinder the market’s recovery and return it to the stagnant state it was in before April 2023.
Keep an eye on transaction prices in your city by observing this week’s real estate transactions:
Ramat Gan
A 5-room apartment on Ahad Ha’am street, measuring 120 square meters with a 22 square meter balcony on the 12th floor out of 32, parking, and an elevator, was sold for NIS 4,070,000 (Re/Max WIN).
Givataim
A 4.5-room apartment on Harav Nahal Street, measuring 118 square meters with an 11 square meter balcony on the 8th floor out of 24, parking, and an elevator, was sold for NIS 4,330,000 (Re/Max WIN).
Tel Aviv
A 4-room apartment on Mor Street, measuring 76 square meters on the 3rd floor out of 4, was sold for NIS 2,200,000 (Re/Max WIN).
Rehovot
A 3-room apartment on Halutz Street, measuring 80 square meters on the ground floor out of 4, was sold for NIS 1.6 million (Anglo-Saxon).
Ganei Tikva
A 4.5-room apartment on Derech Hamelech Street in Ganei Tikva, measuring 116 square meters with an 18 square meter balcony and a 5 square meter storage space on the 3rd floor out of 19 with an elevator and 2 parking spaces, was sold for NIS 3.450 million (Anglo Saxon).
Bat Yam
-A 3-room apartment on Uziel Street, measuring 75 square meters on the 1st floor out of 3, was sold for NIS 1,670,000 (Re/Max Center).
Netanya
A 5-room rooftop duplex on Itamar Ben Avi Street, measuring 116 square meters with a 50 square meter balcony on the 7th-8th floor, with an elevator and parking, was sold for NIS 2.18 million (Anglo Saxon).
Afula
- A 4-room apartment on Bnei Israel Street, measuring 140 square meters with an 18 square meter balcony on the 6th floor out of 8, parking, and an elevator, was sold for NIS 1,225,000 (Re/Max 770).
- A 5-room penthouse on Shoham Street, measuring 231 square meters with an 80 square meter balcony on the 9th floor out of 9, parking, and an elevator, was sold for NIS 2,250,000 (Re/Max 770).
Harish
A 4-room apartment on Thana Street, measuring 98 square meters with a 12 square meter balcony on the 4th floor out of 6, parking, and an elevator, was sold for NIS 1,470,000 (Re/Max New City).
Kiryat Bialik
A 5-room apartment on Nitsanim Street, measuring 140 square meters with a 12 square meter balcony on the 1st floor out of 6, parking, and an elevator, was sold for NIS 1,570,000 (Re/Max Family).
