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Increased housing demand based on real needs – Globes

The Israeli economy continues to boom and a recent survey on consumer attitudes commissioned by Globes newspaper shows that record numbers of Israelis would like to purchase a new home within the next six months.

This trend continues to drive prices up, and the Bank of Israel may look to new ways in the next few months to slow things down (such as changing mortgage rules).

According to the survey, “the sharpest increase was in the proportion of respondents wanting to buy a second-hand home, rising two-thirds from December to 3.5% in January. Looking at the figures for a full year, the increase came at the expense of fence-sitters, indicating that much of the wish to buy a home is driven by a real need for housing.

Now may be the time to invest in a second-hand apartment in a real residential neighborhood while mortgage rates are low and terms are still very good.

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