Sharp drop in new home sales in Israel

23,800 new homes were sold in Israel in the first half of 2022, down 11% from the first half of 2011, the Central Bureau of Statistics reports.


23,800 new homes were sold in Israel in the first half of 2022, down 11% from the first half of 2011, the Central Bureau of Statistics reports. The numbers are likely further down with new home sales in the second quarter of 2022 down 14% from the first quarter. In June 2022, new home sales were down 26% from June 2021.

2022 promises to be a turning point in the housing market, with sales of new homes constantly increasing between 2019 and 2021 (with the exception of the first Covid lockdown in spring 2020). The fall began in August 2021, with an average monthly drop of 3.3% in new home sales since then.







Ashkelon was the city with the most new homes sold in the first half of 2022 – 1,221, closely followed by Tel Aviv with 1,206, Netanya 1,117, Ramat Gan 978, Jerusalem 952, Beit Shemesh 925, Rishon Lezion 906, Beersheva 757 , Ashdod 684 , and Bat Yam 556.

Published by Globes, Israel business news – en.globes.co.il – on August 14, 2022.

© Copyright Globes Publisher Itonut (1983) Ltd., 2022.



New housing in Ashkelon Credit: Shutterstock Yuri Dondish

New housing in Ashkelon Credit: Shutterstock Yuri Dondish