Significant rise in number of apartments for sale?
צילום: shutterstock
'Housing prices about to be restrained'
Meitav Investment House economists say real estate market expected to enter 'long winter sleep' in coming months
Israel's housing market is expected to enter a "long winter sleep", the Meitav Investment House says in a review of the Israeli economy released last week.
According to the Meitav economists, data pointing to a drop in the demand for new apartments strengthen the estimates that housing prices will be restrained in the coming months, especially in terms of apartments for sale.
The demand for new apartments was down 18% in July, compared to the previous month.
The Meitav report noted that the number of apartments for sale recorded a significant rise in the past few months, increasing the supply. The number of ads on Israel's biggest property websites was 14% higher in July than in the beginning of the year.
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