The year 2020 is behind us, but only last week the Central Bureau of Statistics (CBS) published theHousing Price Index For the months of November-December 2020, which presented an annual increase of 4% compared to the months of November-December 2019. Along with this index, the CBS also published the average prices of new and second-hand dwellings in the major cities (in terms of population size) in the fourth quarter of 2020 compared to the fourth quarter of 2019. According to the quarterly calculation, there was an annual increase of 2%.
According to the data, the average price of an apartment in Israel at the end of the fourth quarter of 2020 was NIS 1.574 million, compared with NIS 1.544 million at the end of 2019. An analysis conducted by the Real Estate Appraisal Bureau for Mammon and Ynet on the basis of the CBS quarterly data shows In all the cities surveyed, price increases were recorded, with only one city recording an annual decrease in the fourth quarter of 2020 compared to the third quarter of 2019 – Haifa, where apartment prices showed an annual decrease of 4% to a price of NIS 1.19 million (compared to NIS 1.24 million in 2019). Here are the cities with the most notable price increases.
Surprisingly, Tel Aviv does not actually lead the list of cities where prices have skyrocketed, although the average price of an apartment there is the highest (NIS 3.03 million). Article link https://www.news1.news/news/2021/02/these-are-the-cities-with-the-highest-increases.html
The one who tops the table of immigrants is Ramat Gan, where housing prices jumped by 19% in the fourth quarter of 2020 compared to the corresponding quarter in 2019. Thus, the average price of an apartment in the city is currently NIS 2.39 million, while in the corresponding quarter it was NIS 2.002 million.
Divided into rooms, it can be seen that among small apartments with 1-2 rooms, there was an annual increase of 9% in prices – from NIS 1.34 million in 2019 to NIS 1.46 million in 2020. Article link https://www.news1.news/news/2021/02/these-are-the-cities-with-the-highest-increases.html
The gap widened among 2.5-3 room apartments: these rose by NIS 2.14 million in the fourth quarter. This is a jump of 34% compared to the corresponding quarter, when the price was NIS 1.59 million.
Among 3.5-4 room apartments, this is an increase of 19% compared to the corresponding quarter. Thus, in the fourth quarter of 2019, the price of such an apartment was NIS 2.25 million, and in the fourth quarter of 2020, NIS 2.68 million. Among 5-4.5-room apartments, the price in the fourth quarter of last year was NIS 3.1 million, compared with NIS 2.35 million in the corresponding quarter – a jump of 32%.
The rise in prices in large apartments is not surprising in the shadow of the Corona crisis,” explains Haim Mesilati, chairman of the Bureau of Real Estate Appraisers. He said, “In the past year, given the prolonged stay in homes, homebuyers For the big apartments, they jumped sharply and with them the prices. In my opinion, the trend of price increases will continue next year at least, and especially in the large apartments. “
“Ramat Gan enjoys high demand, both due to its development and its proximity to Tel Aviv, and these demands can explain its position at the top of the list of cities where apartment prices have risen,” adds Sophie Srugo Yochlman, co-CEO of Srugo, which builds in the city. Article link https://www.news1.news/news/2021/02/these-are-the-cities-with-the-highest-increases.html
The high-rises in Tel Aviv have probably made neighboring Ramat Gan more attractive. “
Beit Shemesh also saw a significant annual increase in apartment prices. Article link https://www.news1.news/news/2021/02/these-are-the-cities-with-the-highest-increases.html
The price of an apartment in the fourth quarter of 2020 was NIS 1.36 million – an increase of 15% compared to the fourth quarter of 2019, when the price was NIS 1.18 million. By dividing the size of the apartments, it can be seen that among 2.5-3 room apartments, a similar increase was recorded in the last quarter of 2020 compared to the corresponding period last year (NIS 1.13 million compared to NIS 981,000); Article link https://www.news1.news/news/2021/02/these-are-the-cities-with-the-highest-increases.html
The same is true among 3.5-4 room apartments (NIS 1.45 million compared to NIS 1.26 million).
Among the larger apartments the increases were higher. Thus, 4.5-5 room apartments became more expensive in the fourth quarter of 2020 by 19% compared to the corresponding quarter last year (NIS 1.77 million compared to NIS 1.48 million); “5.5-6 room apartments have risen by 22% (NIS 2.07 million compared to NIS 1.71 million.” Article link https://www.news1.news/news/2021/02/these-are-the-cities-with-the-highest-increases.html
The reason for the increases lies in the construction and development momentum in the city, “says Mesilati. Article link https://www.news1.news/news/2021/02/these-are-the-cities-with-the-highest-increases.html
The Ministry of Transportation, which made it possible to populate new neighborhoods and increased demand. “
Bat Yam is in third place among the large cities in which prices climbed, with an average jump of 13% in apartment prices – to NIS 1.771 million in the fourth quarter of 2020 (compared with NIS 1.56 million in the corresponding quarter last year). However, in the case of Bat Yam, while the prices of 2.5-3 room apartments in the city climbed by 11% to NIS 1.48 million, among 3.5-4 room apartments there was actually a decrease, albeit moderate, of 1% on average to NIS 1.96 million .
The prices of large apartments, 4.5-5 rooms, rose by an average of 6% to NIS 2.87 million (the same rate of increase was recorded among small apartments of 1-2 rooms, when the average price in the fourth quarter of 2020 was NIS 1.21 million). “Bat Yam has become very popular in recent years, thanks in part to the construction of the new Park Hayam neighborhood, which explains the price increases,” notes Avi Zeituni, CEO of A. Zeituni, which builds in the city. “Most of the deals in the city last year were in this neighborhood. “, Which is expected to include about 4,000 new apartments and construction has already begun.”
In fourth place is Rishon Lezion, which recorded an average increase of 12% in apartment prices – from NIS 1.78 million in the fourth quarter of 2019 to a price of NIS 1.995 million in the fourth quarter of 2020. In terms of division into rooms, the data shows that 4.5-5 room apartments increased by 24%. From a price of NIS 2.09 million in the fourth quarter of 2019 to a price of NIS 2.59 million in the fourth quarter of 2020.
Prices for 2.5-3 room apartments climbed by 18% – from an amount of NIS 1.28 million in 2019 to an amount of NIS 1.51 million in 2020. 3.5-4 room apartments increased by 7% – from a price of NIS 1.75 million in 2019 to NIS 1.88 million in 2020. While among 5.5-6 room apartments, there was actually a decrease of 3% – from NIS 2.6 million in the fourth quarter of 2019 to an amount of NIS 2.54 million in the fourth quarter of 2020.
In Rehovot, there was an average price increase of 11% to NIS 1.89 million in 2020, compared with a price of NIS 1.71 million in 2019. 5.5-6 room apartments increased by 18% to an amount of NIS 2.75 million in 2020 compared to NIS 2.32 million in 2019; And 4.5-5-room apartments rose by 13% to an amount of NIS 2.35 million in 2020, compared with NIS 2.07 million in 2019.
“Rehovot is in the midst of a significant development momentum in recent years in the field of residential construction, infrastructure, promotion of high-tech areas, employment and commercial complexes and more,” explains Lehi Sonek, VP of assets at the semi-free group active in the city. “To the addition of tens of thousands of housing units, some in government projects and some in private entrepreneurship, as well as many plans to renovate old neighborhoods by promoting significant construction evacuation projects.”
Sonek adds that in the field of employment, the Rehovot Municipality has established the TMR Science Park (Industry, Science, Rehovot) near the train station, and improved the supply of higher education institutions. In the city, the College of Management, ORT College, Peres Academic Center “Article link https://www.news1.news/news/2021/02/these-are-the-cities-with-the-highest-increases.html
The Faculty of Agriculture of the Hebrew University and the Weizmann Institute of Science. Article link https://www.news1.news/news/2021/02/these-are-the-cities-with-the-highest-increases.html
The combination of these factors makes it desirable, which explains the trend of rising prices.”
In Ashdod, prices increased by an average of 10% to an amount of NIS 1.65 million in the fourth quarter of 2020, compared with NIS 1.5 million in the fourth quarter of 2019. 4.5-5 room apartments increased by 14% (from NIS 1.99 million in 2019 to 2.26 million NIS in 2020); And 5.5-6 room apartments increased by 13% (from NIS 2.07 million in 2019 to NIS 2.34 million in 2020).
Also on the list: Jerusalem, where apartment prices climbed 9%; Netanya, which showed an annual increase of 7%; Ashkelon, whose apartments have risen in price by 6%; Tel Aviv, which rose by 5%; Kfar Saba and Beer Sheva with price increases of 4% each; Bnei Brak, where apartment prices climbed 3%; Petah Tikva with a 2% increase in prices; And Holon with an increase of only 1%. Haifa, as mentioned, is the only city where prices have dropped.
“In Haifa, almost no construction of new projects has begun in the past year, and this is also reflected in the decline in building permits,” Mesilati refers to the decline in prices in the northern city. “CBS data refer to the average price of transactions made, so if in the past year almost no new apartments were sold in the city, and second-hand transactions were made that are considered cheaper, this causes a decrease in the average price of transactions.”
I hope you are in health and well.
I offer you important instructions regarding this article
- The article has been translated based on the content of the Source link below these instructions
If there is any problem related to the content, copyright, correctness of the information contained in this article, or If there are errors in the language, please leave a report below the article. We will try to process as quickly as possible to protect the rights of the author. Thank you very much!
- We only want readers to access information quickly and easily using other multilingual content, rather than information only available in a specific language.
- We always respect the copyright of the author's content and always include
the original link of the Source Article , and if the author does not agree, leave the report below the article, the article will be edited or deleted at the author's request. Thank you so much! Warm greetings!