Contractors: Home prices will continue to rise

Contractors, real estate experts predict that Israeli home price hike to go on, expand to previously unaffected areas

Ofer Petersburg|Published: 10.31.10 , 16:46

Housing prices in Israel will continue to rise next year, according to contractors that participated in the annual Association of Contactors and Builders Convention this past weekend.

According to a survey conducted during the convention, 70% of the contractors believe that home prices will continue to increase moderately in 2011. Real estate marketing experts agreed.

"The same real estate trends that have characterized 2010 will continue in 2011," said Ronny Cohen, deputy managing director of Eldar, a marketing firm, during a panel discussion.

According to Benny Keret, CEO of Azimut Advertising and Marketing, 2011 will bring price growth not only to Tel Aviv but to areas outside it, like north Israeli towns of Pardes Hanna, Karkur, and Hadera and the south Israeli town of Ashkelon.

"The Tel Aviv area will expand and it will continue to be difficult for young couples to find apartments," Keret said. "That being said, I don't remember a time when it was easy for a young couple to buy an apartment in Israel."