While the real estate market in Israel is experiencing a slump, the Yesha Council reports that rent and sale prices for properties in West Bank settlements are on the rise.
According to the council's data, a house in the Benyamin area, which would have sold for NIS 500,000 (roughly $120,200), can now sell for NIS 800,000 ($192,250); an apartment in the West Bank settlement of Shilo, north of Jerusalem, now goes for about $192,300; and one in Eli for $173,740.
A house in Kfar Adumim would be the most expensive, as the area's real estate is now priced at nearly NIS 1 million - $240,600.
Rent prices are also rising: While a caravan could be rented in the area for about NIS 500 (about $120) three years ago, prices today range between $240 and $385.
"The rise in sale and rent prices in Judea and Samaria is a direct result of the total stoppage of construction projects, imposed by (former Prime Minister Ehud) Olmert's government," Danny Dayan, chairman of the Yesha Council, told Ynet.
Yesha Council Director-General Pinchas Wallerstein added that "realty prices are set by supply and demand. There is no supply, but there is definitely a demand. Eventually, we will not be able to accommodate over 50% of the demand and the prices will rise further."