Finance Ministry data indicates a significant increase in the percentage of apartments sold with financing incentives, reaching 50% in September, compared to 20% in May. However, sales of apartments in the free market did not experience a recovery, with about 1,800 apartments sold in September, a figure similar to last year. Contractors are forced to offer additional incentives to attract buyers, but these incentives fail to drive the market.
Additionally, demand for secure rooms is rising due to the security situation, with the percentage of transactions for such apartments reaching 67.1% in August. The disparities between the percentage of transactions for fortified apartments and the inventory are particularly pronounced in areas like Sharon and Jerusalem.
The luxury apartment market, with prices above 10 million shekels, remains largely in the hands of Israelis, with foreign residents accounting for only 17% of purchases. In Jerusalem, however, foreign residents are responsible for half of luxury transactions.