Definition:
Residential real estate transactions refer to the buying, selling, or transfer of ownership of residential properties such as single-family homes, condominiums, townhouses, and apartments. These transactions involve a number of steps and parties, including buyers, sellers, real estate agents, attorneys, lenders, and title companies.Additional information:
The KPIs covered in this market are the real estate transactions revenue and the average revenue transaction value.Most recent update: Jul 2024
Source: Statista Market Insights
The Residential Real Estate Transactions market in Israel has been experiencing significant growth in recent years.
Customer preferences: One of the key customer preferences in the Israeli real estate market is the desire for high-quality properties. Israeli buyers are increasingly looking for modern, well-designed homes with high-end finishes and amenities. This preference for quality is reflected in the increasing demand for luxury properties and upscale developments in prime locations. Additionally, there is a growing trend towards eco-friendly and sustainable homes, as buyers prioritize energy efficiency and environmental responsibility.
Trends in the market: One major trend in the Israeli real estate market is the increasing demand for urban living. Many young professionals and families are choosing to live in city centers, where they can have easy access to employment opportunities, cultural amenities, and public transportation. This has led to a surge in the construction of high-rise apartment buildings in major cities like Tel Aviv and Jerusalem. The demand for urban living is also driving the development of mixed-use projects that combine residential, commercial, and retail spaces in a single development. Another trend in the market is the growing interest in real estate investment. With low interest rates and a strong economy, many Israelis are turning to real estate as a way to grow their wealth. This has led to an increase in the number of investors purchasing properties for rental income or for future resale. Additionally, the government has implemented policies to encourage real estate investment, such as tax incentives and favorable financing options, further fueling the demand in the market.
Local special circumstances: One of the unique aspects of the Israeli real estate market is the influence of the Jewish diaspora. Many Jews from around the world have a strong connection to Israel and choose to invest in residential properties in the country. This has created a steady stream of foreign investment in the market, particularly from Jewish investors in the United States and Europe. The influx of foreign capital has contributed to the growth of the market and has helped drive up property prices in desirable locations.
Underlying macroeconomic factors: Several macroeconomic factors have contributed to the development of the Residential Real Estate Transactions market in Israel. Firstly, the strong and stable economy has provided a favorable environment for real estate investment. Low unemployment rates, rising wages, and a growing GDP have increased consumer confidence and purchasing power. Additionally, low interest rates have made mortgages more affordable, making it easier for buyers to enter the market. Another factor driving the market is population growth. Israel has a relatively high birth rate and a growing population, which has led to increased demand for housing. This demand has put pressure on the market and has contributed to rising property prices. In conclusion, the Residential Real Estate Transactions market in Israel is experiencing growth due to customer preferences for high-quality properties, trends towards urban living and real estate investment, the influence of the Jewish diaspora, and favorable macroeconomic factors. The market is expected to continue to develop as demand for housing remains strong and the economy continues to perform well.
Notes: Data was converted from local currencies using average exchange rates of the respective year.
Most recent update: Jul 2024
Source: Statista Market Insights
Most recent update: Jul 2024
Source: Statista Market Insights
Most recent update: Jul 2024
Source: Statista Market Insights
Data coverage:
Figures are based on total and average revenue of residential real estate transactions (sales).Modeling approach:
Market size is determined by a bottom-up approach. We use national statistics, international organizations, and industry associations to analyze the markets. To estimate the market size for each country individually, we use relevant key market indicators and data from country specific industry associations such as GDP, price level index, household wealth, household size, number of renter and owner households, housing consumer spending per capita.Forecasts:
We use a variety of forecasting techniques, depending on the behavior of the market, for instance, 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:
Data is modeled using current exchange rates. The market is updated twice per year in case market dynamics change. The impacts of the Russia-Ukraine war considered at a country-specific level.Notes: Based on data from IMF, World Bank, UN and Eurostat
Most recent update: Sep 2024
Source: Statista Market Insights