For eight months in Israel may snap up all the housing

03.03.2011 08:55
This will happen if Israel will not build a residential property. In January, demand for new homes in Israel rose by 1.5% to 3.68 thousand objects.

The most popular among consumers has become home in the central region, which accounted for 46% of all queries. Real estate in the Jerusalem district were interested in only 5% of consumers.

Related article: U.S. real estate prices reached a record high in the last two years

According to the Central Bureau of Statistics, Israel, the trend observed over the past few months. Nevertheless, the growth of interest from buyers gradually slowed down along with a decrease in the number of sales of new homes.

If sales continue at the same level, while new construction will be carried out, implementation of total supply in the market should take about eight months. In this case, the stock of unsold housing in the South and the Haifa District enough for only five months to transfer the resources Globes Online.

After analyzing data on the growth in housing demand and reducing unsold objects, general manager of the Association of Contractors and Builders of Israel Motti Kidur suggested that the lack of facilities will further increase in housing prices.

Property in Israel has been steadily going up over the past few years. According to Global Property Guide, up to 2010 housing prices in the country rose by 13,4%, in 2009 the cost of facilities has increased by 18,1%. The Government has various means trying to slow the rise in property prices. Independent analysts, in turn, continue to build the pessimistic predictions.
Content tags: Overseas property
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