Third quarter shows price gains

The real estate market in ISrael showed overall gains of 4.4 % increase in price in the second hand market according to the local real estate news. Although the government has taken steps to try to counterract a potential bubble demand continues to drive prices up nationwide.

According to the Central Bureau of Statistics property prices in the second hand market have risen 3 %, the most expensive prices still being in Tel Aviv in the 4-5 room category of existing homes the average price being 3.09 million.  Jerusalem has seen a rise of 4% with the average price of a 4-room apartment at 1.42 million. Haifa has shown a 5% gain with the average 4-room at 688,000 NIS.

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