The Marker, Hadar Horesh, 12.11.2020

The plague did not stop the demand for apartments: Sales of new apartments jumped in the third quarter of the year by 19% compared to the second quarter, and by 25% compared to the corresponding quarter in 2019. This is according to data published by the Central Bureau of Statistics.

In July-September, sales of new dwellings amounted to 10,140, ​​compared with 8,502 dwellings in the previous quarter and 8,112 dwellings in the corresponding quarter last year. September, which was a holiday and during which the second closure was imposed, was the strongest month in apartment sales since June, with sales of 3,459 new apartments - an increase of 6% compared to August and an increase of 69% compared to September 2019.

Construction in Acre Photo: Gili Melnitsky

The rise in prices may continue next year, in view of the decline in activity in the construction industry and the decrease in construction starts.

In an annual summary (October 2019 to September 2020), sales of new apartments increased by 22%. The largest number of apartments sold in the third quarter of the year in the central region , 3,293. In the southern region, 3,164 new apartments were sold. In the Jerusalem District, only 1,235 new apartments were sold, and in Judea and Samaria, 287 new apartments were sold.

The increase in demand for the new apartments also causes the apartments to continue to rise in price . According to sources in the construction and banking industry, the majority of the population of home buyers was not affected or was slightly affected by the decline in income as a result of the plague. The expectation of a further rise in the price of apartments and an increase in investor activity as a result of the reduction in taxes are causing the purchase of the apartments to be brought forward and sales to increase. The rise in prices is likely to continue next year, in view of the decline in activity in the construction industry and the decrease in construction starts of new dwellings.