Construction Activity in Israel Reaches Highest Level Since 1997

Construction starts declined sharply in the central region and Jerusalem, dropping by 27.3% and 24.1%, respectively

Raz Smolsky
Raz Smolsky
A construction site in Tel Aviv. New-home sales rocketed 60% in the first seven months of 2015.
A construction site in Tel Aviv. New-home sales rocketed 60% in the first seven months of 2015.Credit: Courtesy
Raz Smolsky
Raz Smolsky

The number of new homes under construction reached 97,700 at the end of September, its highest level since 1997, the Central Bureau of Statistics reported on Wednesday.

The pace of building should come as a relief to a government fighting to rein in rising home prices, even though the number of housing starts in the first nine months of the year was up only 3.6% – to 35,850 units – from the same period in 2014, the bureau said.

Construction starts declined sharply in the central region and Jerusalem, dropping by 27.3% and 24.1%, respectively. They were also down 5% in West Bank settlements. But in Tel Aviv they were up 27% on the year and 58.5% in the Negev.

Click the alert icon to follow topics:

Comments

SUBSCRIBERS JOIN THE CONVERSATION FASTER

Automatic approval of subscriber comments.

Subscribe today and save 40%

Already signed up? LOG IN

ICYMI

Dr. Claris Harbon in the neighborhood where she grew up in Ashdod.

A Women's Rights Lawyer Felt She Didn't Belong in Israel. So She Moved to Morocco

Mohammed 'Moha' Alshawamreh.

'It Was Real Shock to Move From a Little Muslim Village, to a Big Open World'

From the cover of 'Shmutz.'

'There Are Similarities Between the Hasidic Community and Pornography’

A scene from Netflix's "RRR."

‘RRR’: If Cocaine Were a Movie, It Would Look Like This

Prime Minister Yair Lapid.

Yair Lapid's Journey: From Late-night Host to Israel's Prime Minister

Lake Kinneret. The high water level created lagoons at the northern end of the lake.

Lake Kinneret as You’ve Never Experienced It Before