Real Estate agent in Tel Aviv market
Between the second half of 2021 and the first half of 2022, the real estate agent in Tel Aviv market increased by 18%. Together with an 18% increase in the number of outstanding mortgages, this rate is the largest since 2010. The fastest increase in 25 years, according to economists at USB Bank, was noted in a special study. They created a global real estate bubble index, which reveals that among all property markets worldwide, Toronto and Frankfurt provide the highest degrees of danger. The study compared short term apartment Tel Aviv costs in 25 well-known locations throughout the world.
Due to a lack of available flats, the rent continued to rise at the same rate as purchase costs. Following a brief period of fall correction in 2018, the market entered a new trend of price rises. The market is now in danger of developing a bubble as a result. Buy property Tel Aviv at the most affordable prices from Ronkin!
How outside variables impact the housing market?
The housing market is impacted by other influences as well. The market has recently been revitalised by fluctuating oil prices and a rise in immigration. In that area, housing costs rose by 10% between mid-2021 and mid-2022. In each of the previous four quarters, rent has increased faster than home prices. As a result, the market still has a fair valuation.
However, the fundamental cause of the hikes is that low loan rates have raised the cost of purchasing homes and distanced them from income levels and rentals. While actual income and rent climbed by just 12% on average, other areas had average price hikes of 60%.
Ronkin Real Estate is Tel Aviv’s leading rental and sales agency for Olim (new immigrants) and foreigners since 2007. Ronkin’s team are committed to providing superior service and customer satisfaction. Customer service is our hallmark.
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