During the first five months of 2026, Tiberias, Safed, and Jerusalem stood out as the leading cities in terms of the rate of heavy investors, meaning those holding three or more apartments. An analysis by the Chief Economist's Office at the Ministry of Finance indicates a general decline in the rate of heavy investors, which reached about 20% of all apartment purchases, compared to 30% in 2024. Tiberias is particularly notable, with about 45% of investors in the city classified as heavy, while in Jerusalem, their rate stands at 23%. In contrast, Haifa and Tel Aviv, which were popular among heavy investors in previous years, are experiencing a significant decline in their involvement. Haifa, for example, has dropped to 16% and Beer Sheva to 20%. The change in the investor landscape indicates a preference for areas with a large ultra-Orthodox population, associated with the purchase of multiple apartments. This phenomenon is particularly interesting in light of the opposition to increasing taxes on investors from representatives of the ultra-Orthodox community.