The increase in rents in Israel. A survey has established that out of approximately 3,000 rental apartment listings in 16 major cities across the country, prices have risen.
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The survey measures the evolution of rental prices over the last 6 months.
The data from this survey, filtered and associated with figures from the Central Bureau of Statistics (CBS) for monthly rents. Additionally, other databases have confirmed these findings.
Results of the survey on the increase in rents in Israel
According to the review, rental prices in the 16 cities examined have increased on average by 5.6%.
- Ramla recorded the highest gain over the past six months, with rents increasing on average by 17%.
- Modi’in with an increase of 13.8%.
- Jerusalem with an increase of 13.6%,
- Kfar Saba with an increase of 9.3%,
- Herzliya with an increase of 8.5%,
- Netanya with an increase of 8.5%,
- Holon – 7.3%,
- Haifa – 5.6%,
- Rishon LeZion – 4.8%
- Tel Aviv – 4%.
Finally, in Beer Sheva, rents have dropped during this period, by 8.4%.
Both tenants and landlords are suffering: how much have rents really increased in recent years
Assessors look at rental apartment boards like anyone searching for an apartment to rent, read media surveys on rent, sometimes they call the real estate agent or the property owner and pretend to be looking for an apartment to rent, but they do not see the rental contracts and can only guess what kind of discount might be obtained during negotiations with the apartment owner. Based on this data, assessors ultimately determine the “market price” of the apartment.
The weakness of the data in the area of rental prices stands out mainly in the context of the particular improvement that has occurred in the data for apartments for sale. There is an obligation to report these transactions to the tax authority – for the purposes of capital gains tax on the seller’s part and for the purposes of purchase tax on the buyer’s part.
