The average price of Israeli apartments rose 15% over the past year and 44% since 2011. A home that cost $360,000 eleven years ago now sells for $520,000.
“If the state does not start marketing land aggressively, we will see even higher increases than we have seen in the last decade,” warned Chaim Mesilati of the Real Estate Appraisers’ Office. “There will be a demand upon demand upon demand, which, if it not met with a fast and available supply, will result in prices shooting upwards.”