According to data released by the Israeli Finance Ministry yesterday, real estate sales in Israel reached a new high in Q4 of the previous year, totaling 32,200 homes. It’s no secret that the property market in Israel has been hot and on the rise for over five years now, and the Ministry’s data only lends to this notion. 2014 saw the expiration of the exemption from capital gains tax, largely seen as a contributing factor in the volume of sales during the fourth quarter.
32,000 homes sold in one quarter is an impressive figure for a country of 7.9 million, and this number reflects a 29% increase from Q3 of 2013. Young couples were the greatest contributing force in the purchase surge, accounting for 12,700 homes sold, a rise of 27% from the previous quarter. Investors also maintained a strong presence in the market, purchasing 7,800 apartments, the highest number since since Q4 2010 and 45% more than Q3 2013.