Israeli housing prices keep soaring, up a record 20.3% from last year

15 December 2022, 6:41 pm

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Construction of residential buildings in the Or Yam neighborhood of Or Akiva, August 16, 2022. (Michael Giladi/Flash90)

Israeli housing prices soared a record 20.3% over the last year, according to a report by the Central Bureau of Statistics (CBS) published today, the largest year-on-year jump since price tracking began.

Prices have been climbing steadily since the second half of 2018, but their continued rise defied predictions, a major drop in sales and the reality in most global housing markets, which are seeing prices slow or fall.

According to CBS prices were up 20.3% since the same period last year (September-October 2021) and rose 1.2% in the last month.

The report notes that inflation stands at 5% and the overall consumer price index was up 0.1% from last month.