In Israel, home buyers borrowed 116 billion shekels or 32 billion euros in mortgages during the year in 2021, according to data from the Bank of Israel. A 50% increase in 1 year.
In December, 12.2 billion shekels were borrowed, or 11.9% compared to November, knowing that in November, 18,200 properties were purchased, which was already the highest monthly number since 2015 due to the Chief Economist of the Ministry of Finance.
First-time buyers, meanwhile, bought more than 6,100 properties in November, the highest number in the last decade according to the Ministry of Finance.
This increase also comes in a context of rising prices because according to the central statistics office, real estate prices rose by 10.6% in 2021, thereby weakening the middle class and putting such advice out of reach for many Israelis.