Housing prices see 5.6% rise over last year

Israeli housing prices have risen a full 5.6% in the past year, according to a new report on the consumer price index released by the Central Bureau of Statistics.

The report, which is released each month, reveals that the price of apartments between February and April this year went up 1% overall — with the biggest rise recorded in Jerusalem.

The prices of apartments in Jerusalem during that period went up 1.6% compared to 1.4% in Tel Aviv, 1.4% in Haifa and the North and 0.9% in the center of the country. In the south, prices dropped 0.6%.

Overall in May, the cost of living in Israel rose 0.4%, according to the report. The biggest increases were seen in fresh fruits (13.7%), clothing (2.4%) and culture and entertainment (1.9%).

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