Israel is often characterized by a significant housing shortage. With an annual supply of 30,000 new properties and a demand of 40,000 per year.
The Jewish Agency, which manages emigration into Israel, is expecting immigration to Israel to rise to a staggering 100,000 in light of the worldwide Covid-19 pandemic, and subsequent global economic slowdown.
Isaac Herzog, Chairman of JA, told an Israeli Government committee that Israel could expect to see some 250,000 new Jewish immigrants over the next three to five years – a marked increase on the 30,000 that it currently receives every year. It is expected thatThis is likely to cause the recent stabilisation of house prices in 2019, to rise ongoing.
The primary reason for the continued rise in house prices in the recent run-up to 2019 is the supply shortage, due to low construction volumes.
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