Housing purchases fall for third straight quarter

Jerusalem led in housing gross sales within the first quarter of 2025, with 1,554 residences bought within the metropolis, the Central Bureau of Statistics stories. In second place was Tel Aviv, with 1,174 residences bought, adopted by Haifa (1,084 residences), and Beersheva (1,002 residences). The variety of housing offers within the first quarter was

23,600 housing transactions have been accomplished within the first quarter of 2025, down 9% from the primary quarter of 2024, and down 6% from the previous quarter. That is the third consecutive quarter through which there was a lower within the variety of transactions. Since June 2024, there was a mean month-to-month lower of two.6% within the sale of recent residences, and since November 2024, a mean month-to-month lower of two.3% within the variety of second-hand residences offered.

Lower within the variety of housing offers in large cities

That is additionally mirrored in municipal knowledge, and in numerous the large cities, declines have been reported within the variety of transactions, particularly in new residences. In Jerusalem, out of the 1,554 residences offered within the first quarter, 38% have been new residences. Furthermore, the variety of new residences bought on this quarter fell by 23% from the fourth quarter of 2024. In Tel Aviv, out of the 1,174 properties offered within the first quarter, 45% have been new residences. It is a shocking determine, since in recent times nearly all of purchases in Tel Aviv have been of recent residences. This is because of a 41% fall within the buy of recent residences.

In Haifa and Beersheva, with 1,084 and 1,002 residences offered respectively bought within the first quarter, many of the markets in these two cities have been primarily based on second-hand residences, and solely 18% of the residences bought in every of those cities have been new residences. Each cities noticed sharp declines within the numbers of recent residences bought: in Haifa, 44% and in Beersheva, 52%.

Lod was ranked fifth by way of condominium purchases, and high by way of new residences bought with a document 620 new residences bought, beating Jerusalem in second place with 598 new residences bought within the first quarter and Tel Aviv with 538. A complete of 880 residences have been bought in Lod, adopted by Netanya (725) and Petah Tikva (721). These two cities additionally noticed declines in new condominium gross sales.

This decline has led to a continued enhance within the provide of unsold new residences, which reached 78,620 housing models on the finish of March, 12.5% of which (9,790 residences) are in Tel Aviv, and 9% (7,384) in Jerusalem.

Different cities that stand out by way of unsold new residences are Bat Yam (4,092), Ramat Gan (3,669) and Netanya (3,531).

Printed by Globes, Israel enterprise information – en.globes.co.il – on Might 14, 2025.

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