From October 2020 to January 2021, roughly 28,700 apartments were purchased in Israel, an increase of 29% compared to the same period in 2019, according to a Finance Ministry report released on Monday.
This increase – the highest since 2016 – is explained by the purchase of some 6,200 apartments by investors, an increase of 77% compared to the same quarter in 2019, likely due to the reduction of the purchase tax last July.
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Over the whole of 2020, 107,500 transactions for apartments were carried out – a 2% decrease compared to 2019.
Most experts predict the boom to continue in 2021, however, with prices expected to rise 3 to 4 percent during the year, according to government forecasts.
