June 22, 2021
Real Estate

“The real estate market will ultimately correct itself or stabilize around more realistic prices”

The residential real estate market is on fire. The marketing of land by the state is unable to match the demand, which has increased over recent months due to the return of investors, as well as those who don’t own a home and understood that the Buyer’s Price Program (Mechir Lamishtaken) has perished. As a result, the prices of apartments have risen by 4.5% over the past year, according to the Israel Central Bureau of Statistics, and the demand and prices of land are breaking records on a weekly basis.

 

However, not all real estate companies are scrambling to seize every piece of land that hits the market. Tamir Cohen, CEO of Real Estate company Shikun & Binui, warned against over-optimism by contractors during Calcalist’s Real Estate Conference. “In all the recent tenders we are seeing companies acting on very aggressive analysis. If we take into account the rising price…

Read full article here: www.calcalistech.com