The Israeli Real Estate Market is Hot – Yet Again

The past year has seen countless articles and stories in the Israeli media speculating on the health of the domestic real estate market. As a result of legislation, the social protests of July 2011, talks of regional conflict, and the global financial situation, the volume of sales dropped for some time, while prices, more or less, and especially in Tel Aviv, stayed stable, even rising in the popular central neighborhoods. New numbers released today by the Bank of Israel report that 4 billion NIS in new mortgages were taken during the months of May and June of 2012, 18% higher than the numbers of the past 12 months. Despite the calamity that surrounded the market over the past year, people are indeed returning to the market, eager to buy their piece of property in Israel.