Apartment prices in Tel Aviv fell by 6% in the third quarter of 2011, according to figures released by the Justice Ministry's chief land appraiser, Tal Alderoti.
Housing prices across the country recorded an average drop of 1.2% in the third quarter, compared to the second quarter of the year.
The number of unsold new apartments saw an increase, standing at some 18,500 housing units.
Additional significant drops were recorded in Beersheba and Bat Yam (4%). In Modiin, apartment prices fell 3%.
In Netanya prices remained the same, while Ashdod, Haifa and Jerusalem saw a 2% increase.
In Ashkelon, despite recent rocket attacks, housing prices rose 1% compared to the second quarter of the year.