Rising prices in Israel: Impact on second-hand apartments? View this week's deals

Against the backdrop of the celebration of rising prices in the Israeli economy, which also directly affects construction projects, yesterday the Boni Ha'aretz Contractors' Association addressed a scathing letter to the prime minister:

"The construction industry is in the worst condition ever - due, among other things, to government decisions that have only deepened the crisis."

In the letter, sent by the president of the association, Raul Sargo, it is stated that the economic crisis created as a result of the war, the lack of manpower, and Turkey's economic boycott of Israel - which leads to an increase in basic consumer prices - will cause a jump in apartment prices, the dismissal of tens of thousands of Israeli workers, a drop in the ability of the branch to carry out the rehabilitation and construction tasks and a loss tens of billions of shekels to the state coffers from the under collection of taxes, levies and the sale of land.

Does the crisis in the construction industry, and the decline in construction starts since the beginning of the war, indirectly cause the price of second-hand apartments to rise? Let's see. 

These are the transactions made this week in the used apartment market in your city:

Tel-Aviv

3-room apartment on Ma'apilei Egoz Street, Neve Chen neighborhood, 83 sqm, with a 9 sqm balcony, on the 6th floor of 7, with parking and an elevator, sold for NIS 2,365,000 (Re/Max Ocean).

4-room apartment on Achimetz Street, Beit Ya'akov neighborhood, 77 sqm, on the 2nd floor of 2, sold for NIS 2,050,000 (Re/Max Ocean).

Be’er Yakov

4-room apartment on Yitzhak Rabin Boulevard, 113 sqm + 13 sqm balcony + 6 sqm storage, on the 3rd floor of 13, with parking and an elevator, sold for NIS 2.61 million (Anglo-Saxon).

Be’er Sheva

4-room apartment on Yitzhak Reger Street, neighborhood D., 85 sqm, on the 1st floor of 4, sold for NIS 900,000 (Re/Max Plus).

4-room apartment on Avraham Avinu Street, neighborhood D., 78 sqm, on the 2nd floor of 4, sold for NIS 815,000 (Re/Max Plus).

3.5 room apartment on Bialik St., neighborhood D., 83 sqm, on the 3rd floor of 4, sold for NIS 870,000 (Re/Max Plus).

3-room apartment on Sderot Jerusalem St., neighborhood 9, 60 sqm, on the 3rd floor of 3, sold for NIS 700,000 (Re/Max Plus).

2-room apartment on Soso HaCohen Street, neighborhood 4, 40 sqm, on the 2nd floor of 3, sold for NIS 700,000 (Re/Max Plus).

4-room apartment on H”an Street, neighborhood 6, 89 sqm, on the 8th floor of 10, with an elevator, sold for NIS 1,140,000 (Re/Max Plus).

4-room apartment on Meshaul Motz Street, 105 sqm, on the 4th floor of 11, with a balcony, elevator, and parking, sold for NIS 1,350,000 (Anglo-Saxon).

3-room apartment on Yehuda Halevi Street, 71 sqm, on the 1st floor of 3, no elevator or parking, sold for NIS 700,000 (Anglo-Saxon).

Ashdod

4.5 room apartment on Alexander Penn Street, 5th District, 144 sqm, with a 12 sqm balcony, on the 2nd floor of 7, with parking and an elevator, sold for NIS 2,310,000 (RE/MAX TOGETHER).

4-room apartment on Barkat Street, 17th district, 172 sqm, with a 12 sqm balcony, on the 6th floor of 11, with parking and an elevator, sold for NIS 3,300,000 (Re/Max TOGETHER).

4-room apartment on Keren Hayesod St., 4th district, 99 sqm, with a 9 sqm balcony, on the 1st floor of 6, with an elevator, sold for NIS 1,755,000 (Re/Max TOGETHER).

Afula

5-room apartment on Habanim Street, 120 sqm, with a 15 sqm balcony, on the 1st floor of 6, with parking and an elevator, sold for NIS 1,118,000 (R/Max 770).

4-room apartment on Iros Street, 105 sqm, with a 16 sqm balcony, on the 1st floor of 5, with parking and an elevator, sold for NIS 1,250,000 (R/Max 770).