Israel Housing Prices Fall 0.6% as CBS Reports First Annual Decline
Israel's CBS index reveals a 0.6% drop in housing prices for July-August and an annual 1.8% decline. A review of recent transactions highlights real estate activity across Beersheba, Holon, Bat Yam, and Haifa.
Housing prices in Israel have resumed their downward trajectory, according to the latest Central Bureau of Statistics (CBS) index for July-August, recording a 0.6% decline compared to the previous two-month period. The index also registered its first annual decrease of 1.8%, alongside a 0.4% drop in new apartment prices. To examine the current state of the real estate market amid a deep transactional freeze, local brokerage networks tracked recent second-hand apartment sales across several cities.
In Beersheba, a 45-square-meter 2-room apartment on Shimon Bar Giora Street in neighborhood Dalet sold for 495,000 shekels. A 3-room apartment spanning 80 square meters on Derech Masada in neighborhood Vav, featuring an elevator on the 5th floor of 8, fetched 700,000 shekels. Additionally, a large 5.5-room apartment covering 154 square meters on Eli Davis Street in the Rambam neighborhood sold for 1.58 million shekels, complete with an elevator, parking, a secure shelter (Mamad), and a 12-square-meter balcony.
Transactions in central and northern cities reflected varied pricing levels. In Holon, a ground-floor 2-room apartment on Mount Scopus (Har HaTzofim) Street, measuring 50 square meters, was sold for 1.6 million shekels. In Bat Yam, a 3.5-room apartment on 29th of November Street, covering 70 square meters on the second floor with a parking space, changed hands for 1.635 million shekels.
Market activity in Haifa included several notable sales. A 3-room apartment on Bodenheimer Street, spanning 65 square meters on the first floor, was purchased for 935,000 shekels. A 4-room apartment on Derech Yad LeBanim, measuring 90 square meters on the first floor of a two-story building, went for 1.28 million shekels, while an 81-square-meter 4-room apartment on Yoav Street on the third floor sold for 1.345 million shekels.
