Israel's housing market under pressure
This content is archived.
Israel’s housing market is poised for a hard landing, despite two recent Bank of Israel (BoI) interest-rate cuts. In the third quarter of 2011, the average price of owner-occupied dwellings dropped by 3.27% (-3.65% inflation-adjusted) from the previous quarter, according to the Central Bureau of Statistics (CBS), the second consecutive quarterly house price fall. In Q2 2011, there was a 0.83% house price decline (-2.08% inflation-adjusted).
Property prices in Israel have risen rapidly in recent years, driven by low interest rates, despite the global meltdown:
The rest of this archived report is part of Full Access.
