Housing snapshot: Home sales and rentals across Israel in February 2025
The Times of Israel’s regular feature on what is happening in the local property market right now
Zev Stub is the Times of Israel's Diaspora Affairs correspondent.
Home prices in Israel continue to rise, official data shows.
Prices rose 0.4 percent in November and December 2024 compared to the previous two months, according to the most recent statistics available from the Central Bureau of Statistics. Compared to the same period a year ago, prices have surged 7.3%.
Prices have consistently risen for the past year after a temporary drop following the launch of Hamas’s war against Israel on October 7, 2023. A combination of factors — including a longstanding housing shortage, strong population growth, and growing foreign investment — has kept demand high even as the conflict disrupts construction and economic stability.
Prices during the two months rose by 1.2% in Jerusalem, 1.2% in the northern district, and 0.3% in Haifa. Prices fell by 0.1% in the central Israel district, 0.3% in the southern district, and 0.6% in the Tel Aviv area.
The average apartment price during the fourth quarter of the year was NIS 2.33 million, CBS noted. The average price of new apartments rose 0.6% compared to the previous two months, somewhat more sharply than overall market prices.
According to Finance Ministry data, 11,261 apartments were sold in December, the highest volume since March 2022, as buyers hurried to complete their purchases before VAT rose to 18% in January 2025. The figure is 85% more than were sold last December when real estate activity reached historic lows due to the outbreak of the war, and 58% higher than in December 2022.
Investors purchased 1,892 apartments in December, 16.8% of all acquisitions. Investors sold 1,838 apartments, 19% more than in December 2022, the report said.
As the cost of purchasing an apartment in Israel continues to rise, more people are likely to choose to rent instead of owning, according to Meitav Investment House chief economist Alex Zabezhinsky. While the average monthly cost of a mortgage has historically been less than the average rental price, that trend has reversed, with the cost of mortgages now 30% higher than renting, Zabezhinsky wrote in a note to investors.
Sales
To provide the housing snapshot below, we used the Israel Tax Authority’s database, which records the actual prices paid for properties. The focus is on sales over the last month to present the most up-to-date picture of the market.
In Tel Aviv-Jaffa, a 76-square-meter (818-square-foot), three-room (two-bedroom) apartment at 15 Einstein Street was sold for NIS 5,580,000 ($1,572,185) on February 2. The apartment is on the eleventh floor of a 30-floor building built in 2023.
A 101-square-meter (1,087-square-foot), four-room (three-bedroom) apartment at 1 HaSolelim Street was sold for NIS 5,238,000 ($1,475,825) on February 6. The apartment is on the ground floor of a 36-floor building built in 2024.
A 48-square-meter (517-square-foot), three-room (two-bedroom) apartment at 16 Émile Zola Street in Tel Aviv was sold for NIS 3,150,000 ($884,840) on February 3, 2025. The apartment is on the second floor of a three-floor building built in 1950.
In Jerusalem, a 117-square-meter (1,259-square-foot), five-room (four-bedroom) apartment at 17 Mekor Haim Street in Jerusalem was sold for NIS 5,200,000 ($1,460,674) on February 6. The apartment is on the fourth floor of a nine-floor building built in 2024.
A 116-square-meter (1,249-square-foot), five-room (four-bedroom) apartment at 25 Yefe Nof Street in Jerusalem was sold for NIS 3,700,000 ($1,034,675) on February 6. The apartment is on the fourth floor of a five-floor building built in 2024.
A 122-square-meter (1,313-square-foot), five-room (four-bedroom) apartment at 14 Moshe Sharett Street in Jerusalem was sold for NIS 3,100,000 ($863,991) on February 10. The apartment is on the fifth floor of an eight-floor building built in 1970.
In Beit Shemesh, A 148-square-meter (1,593-square-foot), five-room (four-bedroom) apartment was sold for NIS 3,328,000 ($934,831) on February 6. The apartment is on the fourth floor of an eight-floor building built in 2024.
A 160-square-meter (1,722-square-foot), six-room (five-bedroom) apartment at was sold for NIS 3,600,000 ($1,016,661) on February 13. The apartment is on the first floor of an eight-floor building built in 2023.
In Haifa, a 110-square-meter (1,184-square-foot), four-room (three-bedroom) apartment at 4 HaTishbi Street in Haifa was sold for NIS 3,050,000 ($858,187) on February 4. The apartment is on the ground floor of a seven-floor building built in 2003.
Rentals
The database of the real estate website Madlan was used to compile this sample of rental apartments on the market with a focus on three-room (two-bedroom) properties, suitable for a couple, two roommates, or a small family.
In Tel Aviv, a 90-square-meter (969-square-foot), three-room (two-bedroom) garden apartment at 5 Isakov Nissim Street in the Dekel neighborhood was put on the market for NIS 10,200 ($2,836) monthly. The unit includes a large private garden and two entrances.
A 75-square-meter (807-square-foot), three-room (two-bedroom) apartment on Sheinkin Street in the Lev Tel Aviv neighborhood was put on the market for NIS 11,900 ($3,309) monthly. The unit is in a boutique building and features a 7-square-meter (75-square-foot) sun balcony and a secure room (Mamad).
In Jerusalem, A 60-square-meter (646-square-foot), three-room (two-bedroom) apartment at 49 HaRekevet Street in the Baka neighborhood is available for rent at NIS 6,500 ($1,806) monthly. The apartment has a balcony off the master bedroom. The building does not have an elevator.
A 308-square-meter (3,318-square-foot), three-room (two-bedroom) garden apartment at 32 Kfar Etzion Street in the Arnona neighborhood is available for rent at NIS 7,800 ($2,204) monthly. It includes a storage room, a secure room (Mamad), and two private covered parking spaces.
In Haifa, A 90-square-meter (969-square-foot), three-room (two-bedroom) apartment at 3 Kinneret Street in the Upper Hadar neighborhood is available for rent at NIS 3,300 ($930) monthly. The apartment includes a balcony.
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