Rental Prices and Real Estate Supply: A Month-by-Month Look at the Israeli Housing Market

In the rental housing market, prices have once again risen, with the most significant increases seen in Jerusalem (6.8% higher compared to March of this year) and Haifa (4.5% higher). Rent in Herzliya went up by 3%, in Petah Tikva by 2.2%, and in Netanya by an average of 0.4%. Despite these increases, the overall cost of rent in the country decreased by 2.5% over the past month. The largest decreases were recorded in Ashkelon (3.3%) and Tel Aviv-Jaffa (3.1%), with declines also seen in Holon (2.7%), Rishon Lezion (1.4%), Beersheba (0.7%), and Ashdod (0.4%).

On the real estate market, supply has decreased by an average of 11.3% from February to March, according to mako.co.il. Interestingly, more apartments for rent have appeared in cities in the center of the country, which is believed to be due to the introduction of apartments intended for tourists that are now available on the “civilian” market.

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