Ashkelon a Leader in Second-Hand Apartments

While the supply of unsold new homes hits records in Israel, Ashkelon again is in the top list of second-hand apartment sales.  There are many second-hand apartments in Ashkelon with great value and you don’t have to be a millionaire to buy one. Stephen Epstein would be happy to connect you with sellers.

According to Globes:

“In the sale of second-hand apartments, Haifa leads with 935 apartments sold there between November 2024 and January 2025, followed by Jerusalem with 908 apartments, Beersheva with 860 apartments, Tel Aviv with 604 apartments, and Ashkelon with 493 second-hand apartments sold.”

The story focuses on a glut of new unsold apartments, which have not come down in price yet. The question is, will a markdown of prices on new apartments cause a lowering of prices of secondhand apartments. Right now, I have noticed sellers holding on to their elevated price expectations, but at the right moment, they might find it more difficult to sell and start to lower their expectation.

“Israel’s housing market is sliding into recession with Tel Aviv leading in sales of new apartments but also having the biggest supply of new homes, while Haifa leads in second-hand home sales, according to the latest Central Bureau of Statistics figures on housing deals in January 2025. Housing supply is again breaking records, even though in December 2024 there was a rush of buyers to purchase new apartments, ahead of the VAT hike in January 2025.”

Read the story on Globes:

https://en.globes.co.il/en/article-supply-of-unsold-new-homes-hits-record-1001504393?