Housing sales decline in Israel
July 29, 2010The number of apartments purchased in the country in June has plunged by 25%, compared to the preceding month.
The quantity of completed apartment transactions plummeted by 27% - down to 1.5 thousand, Globes says, citing data provided by the Israeli Central Bureau of Statistics.
Experts attribute the decline in sales with more stringent rules of mortgage lending. Although these regulations officially come into force only in July, some banks have already began using them a month earlier.
In June, the volume of supply on the market has declined by 3.6%, compared to May, down to 9.3 thousand flats.
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