Amid a renewed season of social justice protests, it is becoming increasingly expensive to rent a home in certain cities in Israel. This is especially true in areas of Tel Aviv, where monthly rentals increased 6% between January-June 2012 to an average of 4,980 NIS. The nationwide monthly rental price is reported at 3,370 NIS, a 4% increase during the same time period.
In the past five years the price increased in Tel Aviv by 2,160 NIS, in Jerusalem by 1,080 NIS and 900 NIS in Haifa and Beersheva, Maariv reports. The nationwide monthly rental price increased 55% on an average during the past five years.
The average Jerusalem rental today is 3,680 NIS and an average Haifa rental is 2,300 NIS.
(YWN – Israel Desk, Jerusalem)
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2 Responses
Housing in Israel is dominated by the government and a few large enterprises, and surprise, it results in shortage. They should try capitalism (no government meddling, no private monopolies allowed, free competition and free markets). Note that in New York City the government is heavily involved in the housing market, and prices are obscene – for the same reason.
Akuperma that may be true to an extent, but in Brooklyn it’s the broker’s lofty aspirations that drove prices thru the roof. That and a number of people that were willing to pay astronomical prices- have driven the market to chaos.