Israel housing sales at 9-year low

10.10.2011                      12.Tischrei. 5772

Häusermarkt:

Israel housing sales at 9-year low

Prices have started retreating, but slowly.

The construction industry is facing a recession, with moderate drops in new housing prices – and a large drop in the number of sales, both new and second hand, reveal figures from the Finance Ministry released yesterday.
As to what will happen to housing prices in the near future, the general consensus in the industry and among analysts is that prices will continue to fall, but only a little. A survey conducted by TheMarker of contractors and developers shows that they also expect moderate declines in new housing prices. But as a result, developers also say they do not expect to buy new tracts of land for construction in the near future….