Since October 2023, the Israeli real estate market has responded erratically to the many shocks and side-effects of the Iron Swords War, but the overall picture shows prices rising as fast as our national blood pressure!

In the Israel’s Central Bureau of Statistics latest review of changes in home prices from September 2023 to September 2024, they offer a clearer overview of the past 12 months. Despite rocket attacks and war on multiple fronts, the index of housing prices rose overall by 6.7% – one of the highest rises in recent years. Prices of new apartments rose by 3.6%.

Showing amazing resilience, or perhaps opportunism among investors, we saw an increase of 11.1% in Haifa prices, 9.5% in the North of Israel, 5.2% in the South of Israel, 7.7% in the central region, 5.9% in Tel Aviv, and 1.7% in Jerusalem.

Shaun Isaacson, CEO of Creative Estates Israel property management, recognizes that this is part of an on-going trend over the past decade.

“No matter how scary the news, demographic growth continues to drive the sale of apartments. My Jewish clients around the world tell me that they are more concerned about the long-term increase in antisemitism than the short-term impact of the war. They believe in the resilience of our country, and are willing to invest in the rebuilding of the northern and southern cities most affected by rocket attacks.

“Investors should not wait for the Israeli real estate “bubble” to burst, because even Hamas, Hizbollah, Iran and the Houtis have not been able to burst it!  These increasing house prices are further proof that #Am Yisrael Chai!”

Photo: Missile intercepted over Ashkelon – photo by Haim Zach / GPO