Israel's property market continues to gather pace
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Israel’s housing market remains robust, amidst strong economic growth. Property demand continues to rise and the residential construction sector is picking up.
The average price of owner-occupied dwellings in the country rose by 7.42% to ILS1,244,800 (US$355,522) during the year to Q3 2013, after annual increases of 7.58% in Q2 2013, 9.77% in Q1 2013, 5.82% in Q4 2012 and 4.99% in Q3 2012, according to the Central Bureau of Statistics (CBS). When adjusted for inflation, house prices rose by 5.62% y-o-y to Q3 2013. Israeli house prices increased 2.39% (1.34% inflation-adjusted) during the latest quarter.
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