Israel Real Estate

Between May-July 2024, around 25,000 apartments were sold, a 32% increase from last year. Despite the surge in demand, unsold units rose by 19%, leaving around 70,000 apartments still on the market.

A Ministry of Finance review shows a 29% rise in July 2024 apartment sales vs. July 2023, with new sales up 51%. Investor activity and first-time buyer purchases also saw strong growth.

New guidelines to streamline Israel's housing construction process, potentially cut building permit approval times by 1 to 4 years, reducing delays and confusion in the current licensing process.

A review by the Ministry of Finance on the housing market shows a 29% rise in housing purchases in July 2024 compared to July 2023, with new apartment sales up by 51%.

The Tel Aviv District Committee approved submitting several urban renewal projects, including about 4,000 new housing units in two major cities in the Gush Dan. Which cities are involved?

Finance Minister Bezalel Smotrich and Health Minister Uriel Buso signed the permits for the new Beersheba hospital, which will include 600 beds and offer services integrated with hospitalization.

The Israel Land Authority issued a tender for 453 apartments in Ashdod under the "Target Price" program. The site will later include 1,000 units, towers up to 24 stories, commercial areas, and more.

Neighborhood Corner: While Pat is still on the small side and mostly residential, its proximity to local landmarks means one is never more than a few minutes away from something to do.

An eastern Jordan Canal promenade path was recently paved in the Kinneret Drainage and Streams Authority's NIS 100 million project to restore and develop 12 kilometers along the Jordan River.

A Real Estate Media event, in collaboration with Leumi Mortgages, brought together ministers and industry leaders to discuss whether Israel is prepared for the influx of Jews expected to immigrate.

For the first time: The Government Authority for Urban Renewal publishes recommended salaries for project organizers, which can impact project feasibility and homeowners' returns.

As Israel's rental market heats up for the new school year, 2024's summer sees surging demand in major cities amid the ongoing conflict, with dramatic spikes in rental interest across the country.

Northern real estate investors face losses as the state ignores their rights, leaving them with empty properties for 10 months. The state's response is due by September 4th.