Home prices continued to rise in the second quarter of 2011, although more slowly than in the preceding quarter, but the number of sales fell, according to the Government Assessor, which examines four-room apartments, which are the most in demand. The average price of a four-room apartment was up 1.6 percent in the second quarter from the preceding quarter and 10.4% higher than in the corresponding quarter of 2010.
The average price of a four-room apartment is 30% higher than in the first quarter of 2009.The average price of a four-room apartment rose by 3% to NIS 2.54 million in Tel Aviv in the second quarter, by 4% to NIS 1.4 million in Rishon Letzion, by 4% to NIS 811,000 in Ashkelon, and by 3% to NIS 755,000 in Beersheva.
The average price of a four-room apartment fell by 1% in Jerusalem, Netanya, Kfar Saba and Ashdod. The average price of a four-room apartment was NIS 1.67 million Jerusalem in the second quarter, NIS 1.52 million in Kfar Saba, NIS 1.24 million in Netanya, and NIS 1.12 million in Ashdod.