Zeev Klein
Apartment prices rose 2.7% in the second quarter of 2005, and 5.1% since the first quarter of 2004, according to Central Bureau of Statistics figures.

The average apartment price in the second quarter was NIS 712,200, compared with NIS 693,500 in the first quarter and NIS 677,100 in the first quarter of 2004.

Prices averaged NIS 478,200 for a 1.5-2-room apartment, NIS 567,700 for a 2.5-3-room apartment, NIS 806,700 for a 3.5-4-room apartment, and NIS 1,075,000 for a 4.5-5-room apartment.

Average apartment prices in Tel Aviv, the Dan region, and the Sharon region are 2.2 times higher than average apartment prices in northern and southern Israel. The price gaps for five-room luxury apartments are greater (2.7 times higher in the central region) and also for small apartments (3.4 times higher in the central region).

Published by Globes [online] - www.globes.co.il - on August 16, 2005


Last Updated: 16-08-2005