A survey of 4000 potential apartment purchasers at an Israeli housing fair reflects the limits of what Israeli’s can and or are wiling to spend and what are non-negotiables in their spending.
Of those surveyed the majority accept the reality that they will probably not own a single family home in their lifetime. Accepting apartment living most choose to purchase what will suit the needs of the number of children they will have. Few are willing to spend considerably more to upgrade. Tower living is high on the choice list, but 89% want a balcony.
With new mortgage and downpayment restrictions of 40% down, only 32% are willing or able to add more than 400,000 NIS to purchase a larger or more luxurious apartment.
On the dream list, 23% of respondents would aspire to buy a luxury unit on a high floor; 22% dream of a penthouse; 20% want to buy a private house; 14% would be satisfied in a garden; 11% want an apartment with large balcony; and 7% dream of a duplex.
As far as location, Israeli’s are homebodies, 67% preferring to buy in the community in which they were raised or the closest community nearby if their hometown is out of their price range, only 33% willing to purchase at a distance from their family.