In real estate companies, and colleagues in the field from realtors to lawyers and appraisers, who ask my opinion on the market,
But if we try to look at the "dry" data, we may realize that the situation is not so bad.
So before I write down my opinion, I'll list a few facts to help you understand why I think so:
- The country's population growth rate requires about 70 new apartments a year.
- Banks have almost stopped new loans in recent weeks, both for entrepreneurs and private clients.
- There is a stagnation in the housing price plan and many cancellations of apartment owners who have already purchased.
- Almost all the deals that were negotiated as of February were frozen
(Whether by entrepreneurs or by private customers in the second hand market) for fear of what will happen here the next day.
- From conversations with colleagues who specialize in working with foreigners, in almost every conversation they have with their clients from abroad, the issue arises from them about the effective management of the "Corona" in Israel, many Jews from abroad (the US and some European countries) have tried and tried to get to Israel Unsuccessfully, in my view after the crisis has passed, there has been a significant increase in Jews from abroad, some of those who have debated whether
Will decide to advance this as the crisis progresses.
- The aerial and marine curfew causes raw material shortages, which will cause prices to rise in the construction input index.
- Massive exit from the capital market - A fair amount of these amounts are likely to return to the real estate market.
- Increase in interest rates from banks to entrepreneurs - The increase is supposedly to cool the real estate market, but not in this case, since those 70, housing needs (not investors), an increase in interest rates will raise the price of housing because eventually the end consumer subsidizes it .
- Another point to consider - after the economy's "bailout plan," the state will have to repay the deficit from taxpayers' money, some of the deficit money is likely to be refunded by taxes from the real estate market.
These appear to continue to support rising real estate prices. Assuming the crisis continues or worsens,
Which would bring an ongoing economic crisis - it's a whole other story that probably won't pass up residential property prices.
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