Haifa leads housing worth rises

Housing costs in Haifa have risen 7.5% because the begin of the warfare, and is the district of Israel with the most important worth will increase, in response to the most recent knowledge from the Central Bureau of Statistics. The district contains Haifa itself in addition to the Krayot, Nesher, Tirat Hacarmel and different small cities within the space like Rechasim the place 296 houses had been not too long ago bought to haredi consumers in authorities sponsored applications.

Based on the info, 18% of all of the offers within the district between December 2023 and Could 2024 had been in Haifa. Within the second-hand market, Haifa’s share rises to 37% of offers within the district. The variety of second-hand offers within the metropolis (1,597) was the very best within the nation throughout these months. Accordingly, the share of latest flats in all offers accomplished within the Haifa district throughout this era is comparatively low and stood at 39%, in contrast with 48% on the nationwide stage.

This has main significance in understanding the worth rises within the Haifa market, as a result of the Central Bureau of Statistics knowledge clearly present that almost all of the worth will increase had been recorded in second-hand flats. In whole, costs have elevated because the second month of the warfare by 5.3%, whereas the worth index for brand new flats has elevated by solely 2%. Since there is no such thing as a index per sq. meter for the costs of second-hand flats, it’s potential to faucet from the info that their worth elevated throughout this time by about 8%. And if in Haifa the share of all offers was better, then the common worth will increase had been additionally better.

Demand for safety rooms is rising

“You see buyers flocking to Haifa and searching for low cost flats, which used to value lower than 1,000,000 shekels, and right this moment are barely extra,” says appraiser Asi Avni. “In Hadar Carmel, a 3-room house was bought in February 2023 for NIS 940,000, and right this moment an an identical house on the ground above was bought for NIS 1.02 million. It is a enormous distinction for such a brief interval.”

Revealed by Globes, Israel enterprise information – en.globes.co.il – on July 16, 2024.

© Copyright of Globes Writer Itonut (1983) Ltd., 2024.