July saw a 16% decrease in prices of new apartments in comparison with the month of June, however when compared to July of 2008 new apartments in Israel now cost 9% more, according to the Central Bureau of Statistics.
Of the new apartments sold in the private sector, 1,210 were under construction at the time of their sale and 110 were completed in the 15 months prior to their sale. Apartments were on sale for an average of 10 months before being sold.
In the west Bank 163 new apartments were sold between the months of January and July 2009, a decrease from the same period in 2008, in which 279 were sold.
On the whole, the number of new apartments sold each month in the period between March and July 2009 rose by 27% from the prior quarter, October to February.
In all the areas of Israel an increase in sales of new apartments took place in the period between January and July of 2009 – in Jerusalem 94.9%, in Haifa 27%, in central Israel 23.9%, and in the south 9.6%.
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