Prices of new homes in Israel are down, Housing Ministry report says
The Housing Ministry attributes the downwards trend to massive land sales by the state, but figures in the real estate industry say the data is dubious.
The Housing and Construction Ministry proudly announced Wednesday the results of a comprehensive review of home sales in 2012 that showed prices for new homes dropping 3% compared with 2011. Prices for second-hand homes rose, it said, but by just 4%.
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