Key regions: United States, China, Japan, Germany, United Kingdom
The Real Estate market in Israel has been experiencing significant growth and development in recent years.
Customer preferences: One of the key customer preferences in the Israeli Real Estate market is the demand for high-quality properties with modern amenities. Customers are increasingly looking for properties that offer convenience, comfort, and a range of facilities such as swimming pools, gyms, and landscaped gardens. Additionally, there is a growing preference for properties located in prime locations, close to business centers, transportation hubs, and recreational areas.
Trends in the market: One of the major trends in the Israeli Real Estate market is the increasing demand for rental properties. This trend can be attributed to several factors, including the rising cost of homeownership, the flexibility offered by renting, and the influx of young professionals and students who prefer renting over buying. As a result, there has been a surge in the construction of rental properties, particularly in urban areas. Another trend in the market is the growing interest in sustainable and eco-friendly properties. With increasing awareness about environmental issues, customers are showing a preference for properties that are energy-efficient, use renewable materials, and have sustainable design features. This trend is driven by both customer demand and government initiatives promoting sustainability in the construction sector.
Local special circumstances: Israel has a unique geographical and cultural landscape that influences the Real Estate market. The country's limited land availability and growing population density have led to a high demand for housing, especially in urban areas. This has resulted in increased competition and rising property prices. Additionally, Israel's diverse population, which includes both local residents and immigrants, contributes to a diverse range of housing preferences and requirements.
Underlying macroeconomic factors: Several macroeconomic factors have contributed to the development of the Real Estate market in Israel. The country's strong economic growth, low unemployment rate, and stable political environment have created a favorable investment climate. Additionally, low interest rates and government subsidies for first-time homebuyers have stimulated demand for properties. Furthermore, the influx of foreign investment in the Real Estate sector has also played a significant role in driving market growth. In conclusion, the Real Estate market in Israel is experiencing growth and development driven by customer preferences for high-quality properties with modern amenities, the increasing demand for rental properties, and the growing interest in sustainable and eco-friendly properties. The local special circumstances, such as limited land availability and a diverse population, also contribute to the market dynamics. Moreover, underlying macroeconomic factors, including strong economic growth and low interest rates, have further fueled the market's expansion.
Data coverage:
Figures are based on value of residential and commercial real estate, average real estate value, residential estate transactions and leases.Modeling approach / Market size:
Market sizes are determined by a combined Top-Down and Bottom-Up approach, based on a specific rationale for each market segment. As a basis for evaluating markets, we use data from international organizations and industry associations. Next we use relevant key market indicators and data from country-specific associations such as GDP, price level index, household wealth, household size, number of renter and owner households, housing consumer spending per capita. This data helps us to estimate the market size for each country individually.Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, exponential trend smoothing. The main drivers are GDP per capita, population, number of renter and owner households, price level index, housing consumer spending per capita.Additional Notes:
The market is updated twice per year in case market dynamics change. The impacts of the Russia-Ukraine war are considered at a country-specific level.
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