Tel Aviv Real Estate Market Report for March 2022

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Tel Aviv Real Estate Market Report for March 2022

real estate behaving like oil

Tel Aviv Apartment Prices

Q1 2022 Tel Aviv Real Estate Report

tel aviv real estate market in numbers

tel aviv real estate prices

tel aviv real estate

2023 tel aviv real estate

housing market

house market 2022

housing market prices

housing price index

home prices

housing prices

the housing market

median house price

house prices rise

houses on the market

housing report

prices rising

housing market decline

median home prices

home prices rising

housing market report

market housing

on the market house prices

housing economy

housing numbers

homes in israel

the house market

a house has

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house price changes

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The Tel Aviv real estate market has been the subject of numerous news articles as of late, showing impressive growth in pricing, demand, and mortgage lending. This press exposure hasn’t been limited to Israel, but in the international press as well, with Tel Aviv finally being recognized as a global investment hub, not just for high-tech, but for residential and commercial property as well. January 2022 saw the largest month-by-month growth in Israeli real estate prices since 2011, growing 2.1% nationally. The entirety of 2021 saw Israeli residential real estate prices rise by 13%, whereas typically prices in Israel rise 7% per year.

The growth isn’t limited to prices, however, but also in the number of transactions. The net number of Israeli real estate transactions is up 50% from 2019, despite the Pandemic. While transactions are at an all-time high, however, it is interesting to note that this has been made up mainly of local Israeli buyers, with foreigners mainly inactive over the past two years due to travel restrictions.

Tel Aviv Real Estate Market Report for March 2022

While there were notable deals by foreign buyers being done sight unseen, the volume of absolute transactions by foreign nationals has been hit, while the total number of transactions are up. Now with the skies open and with the large influx of built-up demand by foreign buyers reported by real estate professionals, one can expect more deals and higher prices in the short term. Also of interest to note is that the number of real estate investors, define as those investors buying units to rent out, have dropped 70% since before the Pandemic, indicating that the buyers over the past two years have mainly been end-users buying for personal use. This is seen in the 10% increase in rental prices in Tel Aviv in 2021 as less rental units are available.

The issue of stock is a major factor in the price rises, with a record low number of real estate starts being started in both Tel Aviv and nationally. The number of second hand units for sale is also at a low not seen since the early 2000’s. These factors paired with a growing Net Disposable Income of Israelis have contributed to the price rises and these too, can in the short term, continue due to the new number of investors entering the market now that Israel itself has opened up.

Published May 8, 2023