Graph and download economic data for Real Residential Property Prices for Israel (QILR628BIS) from Q1 1994 to Q3 2024 about Israel, residential, HPI, housing, real, price index, indexes, and price.

Key information about House Prices Growth

• Israel house prices grew 7.3% YoY in Nov 2024, following an increase of 7.6% YoY in the previous month.
• YoY growth data is updated monthly, available from Jan 1995 to Nov 2024, with an average growth rate of 4.8%.
• House price data reached an all-time high of 21.4% in May 1996 and a record low of -8.8% in May 2003.

CEIC calculates House Prices Growth from monthly Dwellings Price Index (Owner Occupied) . The Central Bureau of Statistics provides Dwellings Price Index (Owner Occupied) with base 1993=100. Dwellings Price Index is calculated monthly covering last 15 days of the previous month and first 15 days of the current month.

Apartment prices in Tel Aviv are the highest among the major cities in Israel. In the first quarter of 2023, the average cost of dwellings in Tel Aviv amounted to over 4.2 million Israeli shekels (roughly 1.13 million U.S. dollars). That was a slight rise compared to the previous quarter. The average price of apartments in the city slightly fluctuated but overall increased during the observed period. Due to the high housing prices in the city, many who wish to live in the city can afford only rented housing. The The number of households  living in rented dwellings in Tel Aviv amounted to 110,000 in 2020, making it the most common type of residency that year.  

High demand for housing in Tel Aviv 

Tel Aviv is the financial and cultural capital of Israel. Important companies in the Israeli economy and most of the influential cultural institutions in Israel are located in the city. As a result, many are interested in living in the city permanently, so housing prices remain high and even rise. Tel Aviv is the most important city in the Israeli high-tech industry, one of the most essential industries in the Israeli economy. As a result, many of the industry workers live in the city. In 2022, StartupBlink ranked Tel Aviv first in its list of leading cities for startups in Israel, with a score of 54.89. 

Residence in Jerusalem and Haifa is more affordable 

Jerusalem, the largest city in Israel, offers more affordable housing than Tel Aviv. In the first quarter of 2023, the aaverage price of apartments in Jerusalem amounted to just over 2.5 million Israeli shekels (around 673,000 U.S. dollars). Although the price is lower than in Tel Aviv, many Israelis hesitate to reside there. Jerusalem has a traditional character; therefore, it has fewer leisure and nightlife options than Tel Aviv can offer. The standard price of dwellings in Haifa, the largest city in the northern part of Israel, is lower than both towns. In the same quarter, it reached almost 1.64 million Israeli shekels (approximately 440,000 U.S. dollars).

In the first quarter of 2023, the average price of dwellings in Jerusalem in Israel amounted to just over 2.5 million Israeli shekels (roughly 673,000 U.S. dollars). That was a decrease compared to the previous quarter. On the other hand, in the fourth quarter of 2022, the average price of dwellings in this city increased slightly.

Residential Property Prices in Israel increased 6.23 percent in September of 2024 over the same month in the previous year. This dataset includes a chart with historical data for Israel Residential Property Prices.

In the first quarter of 2023, the average price of dwellings in Haifa in Israel amounted to almost 1.64 million Israeli shekels (roughly 440,000 U.S. dollars). That was a slight increase compared to the previous quarter. The average price of residences in this city gradually increased during the observed period. Haifa is the third largest city in Israel.

Key information about Israel Gold Production

• Israel Real Residential Property Price Index was reported at 183.281 2010=100 in Sep 2024.
• This records a decrease from the previous number of 183.781 2010=100 for Jun 2024.
• Israel Real Residential Property Price Index data is updated quarterly, averaging 99.599 2010=100 from Mar 1994 to Sep 2024, with 123 observations.
• The data reached an all-time high of 186.865 2010=100 in Dec 2022 and a record low of 76.547 2010=100 in Dec 2007.
• Israel Real Residential Property Price Index data remains active status in CEIC and is reported by Bank for International Settlements.
• The data is categorized under World Trend Plus’s Association: Property Sector – Table RK.BIS.RPPI: Selected Real Residential Property Price Index: 2010=100: Quarterly. [COVID-19-IMPACT]

In 2023, the Israel Real Estate Market reached a value of USD 85.3 million, and it is projected to surge to USD 154.9 million by 2030.

In January 2022, the Consumer Price Index (CPI) for housing in Israel was measured at 103.3 points. This was a slight increase compared to the previous month. In the observed period, the CPI grew by 1.5 points, indicating an expansion in housing prices.

The size of the Israel Commercial Real Estate Industry market was valued at USD XX Million in 2023 and is projected to reach USD XXX Million by 2032, with an expected CAGR of 6.12% during the forecast period. The commercial real estate (CRE) industry encompasses the buying, selling, leasing, and management of properties that are primarily used for business purposes. This sector includes various types of real estate such as office buildings, retail spaces, industrial facilities, and multifamily housing units. Unlike residential real estate, which focuses on properties intended for individual living, commercial real estate deals with properties that generate income or are utilized for commercial activities. Investors and businesses engage in CRE for several reasons, including the potential for stable income through rental agreements, appreciation of property value over time, and diversification of investment portfolios. The industry is influenced by numerous factors, including economic conditions, interest rates, and local market dynamics. Investors in CRE must also navigate complex zoning laws, property management considerations, and financing options. Key drivers for this market are: Increasing need for contemporary office spaces, Urban and semi-urban lodging are acting as other significant growth-inducing factors. Potential restraints include: Availability of Financing. Notable trends are: Shortage of Building Land and Labor Availability.

Israel IL: Price to Income Ratio: sa data was reported at 104.557 2015=100 in 2016. This records an increase from the previous number of 100.000 2015=100 for 2015. Israel IL: Price to Income Ratio: sa data is updated yearly, averaging 91.707 2015=100 from Dec 1995 (Median) to 2016, with 22 observations. The data reached an all-time high of 109.854 2015=100 in 1997 and a record low of 70.441 2015=100 in 2007. Israel IL: Price to Income Ratio: sa data remains active status in CEIC and is reported by Organisation for Economic Co-operation and Development. The data is categorized under Global Database’s Israel – Table IL.OECD.AHPI: House Price Index: Seasonally Adjusted: OECD Member: Annual. Nominal house prices divided by nominal disposable income per head. Net household disposable income is used. The population data come from the OECD national accounts database.

In the first quarter of 2023, the average price of dwellings in Israel amounted to nearly 1.97 million Israeli shekels (roughly 530,000 U.S. dollars). That was a slight rise compared to the previous quarter. The average price of residences in Israel gradually increased during the observed period.

Israel Dwellings Price Index: Owner Occupied data was reported at 599.000 1993=100 in Nov 2024. This records an increase from the previous number of 596.600 1993=100 for Oct 2024. Israel Dwellings Price Index: Owner Occupied data is updated monthly, averaging 220.600 1993=100 from Jan 1994 (Median) to Nov 2024, with 371 observations. The data reached an all-time high of 599.000 1993=100 in Nov 2024 and a record low of 117.200 1993=100 in Jan 1994. Israel Dwellings Price Index: Owner Occupied data remains active status in CEIC and is reported by Central Bureau of Statistics. The data is categorized under Global Database’s Israel – Table IL.EB005: Dwellings Price Index. Dwellings Price Index is calculated according to 'Survey of Housing Prices'. As of January 2009, these surveys serve as an indicator to changes in housing prices are not part of the Consumer Price Index. [COVID-19-IMPACT]

Graph and download economic data for Consumer Price Index: OECD Groups: Services Less Housing: Total for Israel (ISRCPGRLH01GPQ) from Q2 1970 to Q3 2023 about Israel, services, CPI, price index, indexes, and price.

In the first quarter of 2023, the average price of dwellings in Beer Sheva in Israel amounted to over 1.1 million Israeli shekels (roughly 320,000 U.S. dollars). That was a slight increase compared to the previous quarter. On the other hand, in the third quarter of 2022, the average price of residences in this city decreased minimally. Be'er Sheva is considered the capital city of the Southern District and the biggest one in that area.

Israel Consumer Price Index (CPI): Housing: Rent data was reported at 100.900 2018=100 in Jan 2019. Israel Consumer Price Index (CPI): Housing: Rent data is updated monthly, averaging 100.900 2018=100 from Jan 2019 (Median) to Jan 2019, with 1 observations. Israel Consumer Price Index (CPI): Housing: Rent data remains active status in CEIC and is reported by Central Bureau of Statistics. The data is categorized under Global Database’s Israel – Table IL.I002: Consumer Price Index: 2018=100.

In 2024, Israel was the country with the highest increase in house prices since 2010 among the Middle Eastern and African countries under observation. In the first quarter of the year, the house price index in Israel exceeded 219 index points, suggesting an increase of 119 percent since 2010, the baseline year when the index value was set to 100. It is important to note that the nominal index does not account for the effects of inflation, meaning that, adjusted for inflation, price growth in real terms was slower.

O Índice de Habitação em Israel aumentou para 597,80 pontos em janeiro, em comparação com os 594,20 pontos de dezembro de 2024. Valores atuais, dados históricos, previsões, estatísticas, gráficos e calendário econômico - Israel - Índice Imóveis.

Graph and download economic data for Consumer Price Index: Housing for Israel (ISRCPIHOUMINMEI) from Jan 1970 to May 2018 about Israel, CPI, housing, price index, indexes, and price.

In February 2024, the non-seasonally adjusted house price index (HPI) in Israel amounted to around 575 points. This accounts for a 0.9 percent increase from the previous month. In the month following the Israel-Hamas war, which started on October 7, 2023, prices rose by 1.2 percent.