7 May 12 14:43–Prices of new apartments fell 1.1% in March 2012, compared with February, and fell 13% compared with March 2011. The median new home price was NIS 866,000 in March, the Ministry of Finance announced today.

The prices are based on a comparison of prices in given projects. Each month, the difference from the previous month is calculated, while deleting projects for which the marketing began in the previous month. Only projects for which the marketing is ongoing are included.

The Ministry of Finance says that prices for new apartments in Tel Aviv are stable, prices in Haifa edged down by 0.5%, and prices in Beersheva fell by 1.6%.

Demand for apartments is up. 7,490 new and second-hand apartments were sold in March, 2% more than in February, but 19% fewer than in March 2011. New home sales were down 46% in Beersheva in the first quarter compared with the corresponding quarter, well above the 26% drop in new home sales nationwide…Read More>>

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