Building starts fall from peak

Building starts were made on 70,250 homes in Israel between October 2021 and September 2022, the Central Bureau of Statistic reports, down 3.1% from a peak of 72,540 building starts between July 2021 and June 2022. This figure is still 15.6% higher than between October 2020 and September 2021.

Between October 2021 and September 2022, Tel Aviv-Yafo led the way with 5,484 new building starts (up 75.2% from the corresponding period of 2020-2021), followed by Jerusalem with 4,000 building starts (up 50.9%), Beit Shemesh with 3,287 building starts (up 97.7%), Bat Yam with 2,870 building starts (up 99.3%), Netanya with 2,755 building starts (up 81.7%), and Rishon Lezion with 2,479 building starts (down 0.7%).

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Between October 2021 and September 2022, 80,260 building permits were issued for new homes, up 25.8% from the corresponding period between 2020 and 2021, and only 400 less than between July 2021 and June 2022.

In terms of building finishes 49,830 new homes were completed between October 2021 and September 2022, up 3.9% from the corresponding period between 2020 and 2021. Between July 2021 and June 2022, 49,650 homes were completed.

Published by Globes, Israel business news – en.globes.co.il – on December 20, 2022.

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