Yad 2: Don't expect house prices in South to fall

The 8-day Pillar of Defense in 2012 seemed to have no long-term effect on housing prices in places hard-hit by rockets.

August 6, 2014 21:04

A rocket hit in Ashdod. (photo credit: MARC ISRAEL SELLEM/THE JERUSALEM POST)

If history is any guide, Operation Protective Edge will not cause home prices in the South to slump.

So says Yad2, a real estate listings website, which on Wednesday released data on searches from Operation Protective Edge and 2012’s Operation Pillar of Defense.

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“During Operation Protective Edge, there was a reduction in the number of searches for apartments in some of the cities in the conflict zones around Gaza, but it is estimated the reduction was temporary, as expected during wartime,” the company said in an analysis of the data.

The eight-day Pillar of Defense seemed to have no long-term effect on housing prices in places hard-hit by rockets, such as Ashdod, Ashkelon and Beersheba.

The month after the operation, prices fell a paltry NIS 100, to NIS 10,283 per square meter. By February, they had gone back up.

There is no telling if the latest round of fighting will be different. On the one hand, it lasted three-and-a-half times longer than the 2012 conflict. On the other hand, due to the effectiveness of the Iron Dome air-defense system, Israel absorbed a smaller amount of direct damage from rockets during Protective Edge.

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