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The evolution of prices from 2006 to 2017 in the center of the country.
Let’s observe the evolution of prices from 2006 to 2017 in the center of the country for each city studied. Additionally, we look at the price progression based on its region and in relation to the overall price evolution of the country.
Hadera :
Price Index per square meter: 12844 NIS Rental Yield Index: 2.9% Increase from 2006 to 2017: 334%
We can see that apartment prices in Hadera have increased significantly between 2006-2017. At the beginning of 2006, the average housing prices were 382,000 shekels. However, in 2017, the average apartment prices rose to 1,278,000 shekels. The graph allows us to distinguish that at the beginning of 2006, Hadera was below the threshold of the Haifa district and today it is well above. Despite the significant increase in Hadera over the past few years, it is still below the average apartment prices in the country.
Netanya :
Price Index per square meter: 17651 NIS Rental Yield Index: 2.9% Increase from 2006 to 2017: 254%
We can see that apartment prices in Netanya are on a drastic upward trend from 2006-2017. At the beginning of 2006, acquiring an apartment cost 694,000 NIS and today (2017) it costs 1,767,000. Netanya offers a supply above the national average and remains in line with the average progression in the central district.
Herzliya :
Price Index per square meter: 25691 NIS Rental Yield Index: 2.5% Increase from 2006 to 2017: 254%
We can see that apartment prices in Herzliya have risen by 254% from 2006-2017. At the beginning of 2006, the average apartment prices (average) were 985,000 NIS and today (2017) the price of apartments is 2.5 million shekels. It can be noted that Herzliya is increasing drastically, with apartment prices being much higher than the general price level, whether compared to the central district or the average of the rest of the country.
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Tel Aviv :
Price Index per square meter: 35066 NIS Rental Yield Index: 2.6% Increase from 2006 to 2017: 303%
We can see that apartment prices in Tel Aviv are rising; Tel Aviv is one of the most expensive cities in Israel. From 2006 to 2017, Tel Aviv increased by 303%. At the beginning of 2006, apartment prices were 857,000 shekels and today (2017) Tel Aviv stands at 2,597,000 shekels. Tel Aviv remains above the national average and the central district.
Petah Tikva ֿ:
Price Index per square meter: 18443 NIS Rental Yield Index: 2.8% Increase from 2006 to 2017: 275%
We can see that apartment prices in Petah Tikva have risen by 275% over the years 2006-2017. At the beginning of 2006, the average housing prices were 582,000 shekels. Today (2017), housing prices stand at 1.601 million. Furthermore, you can see that the city has maintained average prices in the central district. And this over the past ten years. However, over the last two years, the average price in Petah Tikva has fallen below the average of its region.
This decline is mainly explained by a decrease in immigration to this city. In conclusion, apartment prices in Petah Tikva remain higher than the average apartment prices across the country.
