The Bank of Israel reported that the amount of mortgages taken out by Israelis has risen 4.5% from last year. Despite the continuing rise in home prices, Israelis and foreigners continue to buy real estate here en masse.
Through August, 10.5 billion NIS of mortgages were taken out in 2012, with 5.9 billion NIS in August alone. This supports the assertions made recently in the press that the Israeli real estate market has been continuing to grow stronger. Detractors have been calling for a bubble burst for close to three years now, but these statistics from the central bank seem to, yet again, prove the strength of the market here.