Israel's house price bubble inflates further
This content is archived.
Despite tighter lending policies and repeated warnings from the Central Bank, house prices continue to rise in Israel at double-digit rates. Although the rate of increase has somewhat eased, the monetary authorities are clearly worried.
The average price of owner-occupied dwellings rose 16.4% y-o-y and 4.4% q-o-q to Q3 2010, according to data from the Central Bureau of Statistics. Although the annual price increase was lower than the 22% surge in Q4 2009, it was the sixth consecutive quarter of double digit price increase.
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