Rise in demand for mortgages in Israel: 80 billion shekels since the beginning of the year
Published
New data shows that the real estate market in Israel continues to be very active. During the first eight months of 2024, from January to August, Israeli citizens took out mortgages from banks totaling 80 billion shekels.
The current pace indicates that by the end of the year, the total amount of mortgages could reach 120 billion shekels. This is a significant figure, indicating that many in Israel are still choosing to purchase apartments, despite the complex economic situation and the high interest rates in the economy.
The rise in demand for mortgages affects the entire Israeli economy. Real estate experts are closely monitoring these numbers, as they reflect the public's confidence in the housing market and the ability of many families to meet long-term loan repayments.
At the same time, discussions are taking place in the government regarding additional economic measures. The Minister of Finance, Bezalel Smotrich, recently expressed opposition to various tax increase plans, including opposition to taxing profits on high-tech employee stock options, out of a desire to encourage growth in this sector.
In summary, the Israeli housing market remains relatively stable in terms of activity volume. The combination of high demand for apartments and the government's economic policy will continue to occupy the public and policymakers in the coming months.
Sources: גלובס
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