The past year has seen the real estate industry in Israel flourish despite the global pandemic, a residential real estate survey by the Finance Ministry's Chief Economist's Office has found.
According to a report in financial daily Globes, 2020 saw 107,100 housing deals – the highest number of homes sold in the span of one year in two decades.
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Residential real estate sales in the first two months were very strong, continuing the trend from 2019. December 2020 was particularly strong as well, with 5,400 new homes sold. According to the report, in the second half of 2020, 38% of all housing deals were for new homes.
Most experts expect the boom to continue in 2021 with prices expected to rise 3%-4% over the next year, according to government forecasts, Globes said.
