Rental Market Fluctuations in Israel: Price Increases and Decreases in Supply and Demand

In recent months, the rental housing market has seen significant price increases across the country. The most notable increases were recorded in Jerusalem (6.8% higher) and Haifa (4.5% higher), with rent in Herzliya rising by 3%, Petah Tikva by 2.2%, and Netanya by an average of 0.4%. Despite these increases, the overall cost of rent in Israel decreased by 2.5% over the past month, with the largest decreases recorded in Ashkelon (3.3%) and Tel Aviv-Jaffa (3.1%). Other cities also saw declines, including Holon (2.7%), Rishon Lezion (1.4%), Beersheba (0.7%), and Ashdod (0.4%).

The real estate market in Israel also experienced a decrease in supply from February to March, with an average decline of 11.3%. Interestingly, more apartments for rent have become available on the “civilian” market as a result of apartments intended for tourists being introduced to the public sector.

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Overall, while rental prices have risen in some areas of Israel, there has been a slight decrease in overall costs over the past month due to increased supply from new apartment listings and decreased demand from some regions.