Israel's Unsold Completed Apartments Inventory Surges by 31% in Four Months
Israel's unsold completed housing inventory surged 31% in four months to 10,500 units. Meanwhile, a Ramla tender was secured at 40% of appraisal value.
Israel's unsold completed apartments inventory surged by 31% over a four-month period, rising from approximately 8,000 units in April to about 10,500 units in August, according to data presented by Amit Gottlieb, chairman of the Tel Aviv and Center District Contractors Association, during the Truth Real Estate Conference in Eilat. This addition represents about 2,500 homes waiting for buyers. Gottlieb's presentation indicated that the total unsold inventory of new apartments with building permits, including units under construction, reached approximately 85.7 thousand units in August.
Streamlining Permitting Processes
In planning updates, a building permit application for 200 apartments has been submitted under the authorized permit track in the Karmei Gat Tsafon neighborhood of Kiryat Gat. The application was filed for a residential project by the Rahmani Group across three plots by certified architect Yhai Amsili. The structures are planned around a central open public space to integrate green areas and accessibility for residents. The authorized permit track enables certified architects to issue permits independently without local committee approval, aiming to reduce bureaucracy and shorten licensing procedures.
Supreme Court Fees Dispute
In legal developments, Ofek Sheli and the Israel Builders Association filed a request for an additional hearing in the Supreme Court regarding building fees in the Price for Occupant housing projects. The request follows a September 2026 precedent-setting ruling where the Supreme Court overturned a district court decision, ruling that developers are not entitled to a 50% refund of building fees without explicit approval for each project. The petition argues that the ruling relies on a forced legal construction that will trigger severe practical consequences for hundreds of contractors.
Tender Award in Ramla
Meanwhile, a single bidder won an Israel Land Authority tender in Ramla for a plot designated for 102 apartments, paying approximately NIS 16.7 million. Mimushim Magshimim Potentsial was the sole bidder, securing the land at about 40% of the authority's appraisal value, which stood at roughly NIS 36.1 million. The plot is part of the Olive Grove plan in southwestern Ramla, north of Route 431, spanning approximately 114 dunams and slated to include about 900 housing units alongside commercial and employment spaces.
