Monday, May 4, 2015

Israel home prices up 97.3% since 2007

Home prices in Israel rose by an average of 9.6% a year between 2007 and 2014, according to figures presented by Bank of Israel Deputy Governor Dr. Nadine Baudot-Trajtenberg at Tel-Hai College. She said that the home-price index rose by 97.3% since April 2007, while the rent-price index rose by 46% over the same period - 5.1% each year.

In real terms, according to the data, apartment prices in Israel have risen 63.9% since 2007 - 6.9% a year. In an international comparison, from 2000 to 2013, Israel ranks roughly in the middle: during the same period, home prices in Canada, Sweden, and the UK rose more, while in the US, Ireland, and Japan, prices rose less, and in some countries home prices decreased.

The deputy governor’s presentation discussed the importance of short term and long term monetary policy, and included details of its roles and areas of activity. Baudot-Trajtenberg examined the macroeconomic developments in the world, and in the Israeli economy, and spoke of the central trends in monetary policy, currency markets, inflation, and economic activity.

In her survey, the deputy governor discussed the main factors needed to make long-term growth possible, including developing human capital, capital investments, investment in technology, and competitive and stable financial mediation. Baudot-Trajtenberg also mentioned the importance of the Bank of Israel’s role in attaining long-term price stability and supporting financial stability.

Source Globes

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