(haipo) – Real estate in Haifa: In the months of January to March 2025, approximately 23,590 apartments were sold in Israel, a decrease of 5.6% compared to the previous quarter (October-December 2024), and according to seasonally adjusted data, the decrease is 5.3%. This is a continuation of the slowdown trend that is also evident compared to the corresponding quarter last year, which recorded a sharper decrease of 9.0%.
The CBS data published yesterday, Wednesday, 14/5/25, indicate a significant change in the composition of transactions: While the sale of new apartments decreased by 23.1% compared to the previous quarter, the second-hand market recorded a nice increase of 10.4%, evidence of a change in buyers' preferences or perhaps difficulties in driving new projects that will put new apartments up for sale.
Haifa ranks 13th in new apartment sales
Decline in new apartments – especially the discounted ones
Of all transactions recorded in the entire State of Israel, 38.9% of the apartments sold in the first quarter of the year were new apartments, approximately 9,190 apartments only, a sharp decrease compared to the previous quarter. Even after deducting seasonal effects, this is a significant decrease of 19.1%. Approximately 26.5% of the new apartments sold were within the framework of government subsidy programs.
In contrast, 61.1% of the transactions, approximately 14,400 apartments, were second-hand apartments. This is a significant increase compared to the previous quarter, indicating that many buyers chose the available and immediate option, perhaps due to economic uncertainty or the bureaucracy involved in purchasing an apartment from a developer.
So where does the city of Haifa stand?
Haifa leads in second-hand apartment sales
Buyers' growing preference for second-hand apartments in Haifa
In Haifa, in the first quarter of 2025, there was a sharp 43% drop in new apartment sales, with only 195 apartments sold, compared to 346 apartments in the previous quarter. In contrast, the city's second-hand apartment market showed stability, with a slight increase of 0.7% in the number of transactions, from 883 in the previous quarter to 889 in the current quarter.
As of the end of March 2025, the inventory of new apartments remaining for sale in Haifa stood at 2,239 units, a figure indicating a slowdown in demand for new apartments in the city.
These trends indicate a growing preference among buyers for second-hand apartments in Haifa, while the new apartment market is experiencing a significant decline in demand.
Haifa ranks second after Jerusalem in second-hand apartment sales
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