Yaakov Kwint, director general of the Israel Land Authority: "The trend of falling apartment prices will continue in the coming months."
Unlike the US or Canada, where there is abundant affordable property for rentals, Israel is overcrowded and expensive. Over the last 15 years, the price of homes in Israel went up by 8% annually.
For young couples, the goal of buying an apartment is getting further and further away, and some are considering investing in real estate abroad.
Gafni and Smotrich said they would meet with the banking regulator, which is part of the central bank, to come up with a solution for mortgage holders.
Benjamin Netanyahu, the designated prime minister, said during his campaign that the cost of living would be one of the new government’s most important issues.
Israel's presumptive next housing minister is hit with the realities of finding housing in Israel in the 2020s.
More housing starts have been promoted by the government this year, which could lead to better prices in two to three years.
As the housing and renting market is burdening Israelis, the Tel Aviv Regional Planning Council is pushing for a new, radical solution.
NATIONAL AFFAIRS: Most of the candidates in Israel's elections are spending an inordinate amount of time on the unimportant, and barely talking about what genuinely matters
The downward movement presents a glimmer of hope for Israelis, who have spent the last 12 months watching the country’s inflation rise by 5.2% since July of last year.