Israel's Housing Market Cools – Where and How Prices Fell

The Central Bureau of Statistics' annual index shows Israel's housing market cooling: prices fell 2% over the year, the sharpest drop in eight years. According to real estate networks, Jerusalem remains the most expensive (two-bedroom apartments at 3.1 million shekels), in Ashdod four-bedroom units cost 1.5–1.74 million, and in Be'er Sheva 1.37–1.8 million. The government is reforming the subsidized housing program: introducing price caps and reducing lotteries.

The Central Bureau of Statistics' annual index recorded a cooling of Israel's housing market: prices nationwide fell 2% over the year, marking the sharpest decline in eight years. Analytical reports from real estate networks 'RE/MAX' and 'Anglo-Saxon', cited by ynet, show varying dynamics across cities. In Jerusalem, prices remain the highest: two-bedroom apartments cost 3.1 million shekels, four-bedroom around 5.225 million. In Ashdod, four-bedroom units sell for 1.5 to 1.74 million. In Be'er Sheva, three-bedroom apartments are about 1.05 million, four-bedroom 1.37–1.8 million, and five-bedroom up to 2.16 million. In Netanya and Haifa, three- and four-bedroom apartments range from 1.06 to 1.8 million. In Lod and Ramle, two-bedroom apartments start at 1.15 million, and five-bedroom with MAMAD (protected room) go up to 2.7 million. Concurrently, the government is revising the subsidized housing program: the scale of housing lotteries is being reduced, with priority given to reservists. Price caps are being introduced: municipalities where the average price per square meter including VAT does not exceed 20,000 shekels will be eligible. For a four-bedroom apartment of 90 sqm, the maximum price is 1.8 million, the discount remains 25%, but not exceeding 500,000 shekels.

Israel's Housing Market Cools – Where and How Prices Fell