Smotritz leaves the stage at the 2024 Real Estate Center conference following boos/Walla system!
Inflation continues to soar: the consumer price index rose by 0.6% in March. In the last twelve months (March 2024 vs. March 2023), the consumer price index rose by 2.7%.
Notable price increases were recorded in the sections: clothing and footwear which increased by 2.0%, culture and entertainment which increased by 1.5%, housing which increased by 0.6%, health which increased by 0.5%, transportation which increased by 0.4% and miscellaneous dimension which increased by 3.5%. Notable price decreases were recorded in the sections: fresh vegetables and fruits which decreased by 3.0% after an increase of about 11% last month.
In the monthly rent, for the tenants who renewed a contract, an increase of 2.7% was recorded and for the new tenants (apartments in the sample where there was a change of tenant) an increase of 2.6% was recorded.
The residential construction input price index rose in March by 0.2% and will affect the apartment buyers who have not yet transferred the full payment to the contractors. The index reached 130.2 points compared to 129.9 points in the previous month (base: July 2011 = 100.0 points). Since the beginning of the year, this index has increased by 0.3%. The index of input prices in residential construction without labor wages increased by 0.2%.
Apartment prices increased by 1%: from the comparison of the prices of the transactions carried out in the months of January 2024 - February 2024 compared to the prices of the transactions carried out in the months of December 2023 - January 2024, it was found that the prices of the apartments increased by 1.0%. Segmented by districts, price increases were recorded in most districts: Jerusalem (0.7%), North (-0.2%), Haifa (1.3%), Center (0.5%), Tel Aviv (2.1%) and South (0.4%). The prices of the new apartments remained unchanged.
An annual comparison of the prices of the transactions carried out in the months of January 2024 - February 2024 compared to the prices of the transactions carried out in the months of January 2023 - February 2023 shows that the annual apartment price index increased by 0.3%. When segmented by districts, price increases were found in the following districts: Haifa (4.4%), South (3.6%), Jerusalem (2.1%) and North (0.9%). On the other hand, price decreases were found in the following districts: Tel Aviv (1.8%) and Central (0.5%).
The annual new apartment price index decreased by 2.1% and the monthly index remained unchanged.