TEL AVIV PROPERTY INDEX

Israeli house prices are falling.
Yours may not be.

Every Israeli property number is published in shekels, which is the wrong currency for most of the people reading it. Prices fell 1.5% over the last year. For a buyer earning in dollars the same flat got about 18% more expensive, because the shekel did what the housing market did not. Pick your currency and watch it move.

Ten years, with and without the housing market

Two lines. The pale one holds Israeli house prices completely flat and shows what the exchange rate alone did to your price. The red one adds the actual index. For most of the last decade the currency has been the larger force, and it is the one nobody writes about.

Exchange rates are European Central Bank reference rates via Frankfurter, sampled on 1 September of each year. The reference flat is fixed at ₪3,000,000 throughout, so the only things moving these lines are the currency and the index.

The rest of the index

Twenty-two pages of Israeli property data, each one showing its working and naming its source.

01 The scissors Construction costs are rising 3.7% while prices fall 1.5%. 02 Off-plan linkage Forty per cent of an off-plan price is not fixed. 03 84,280 unsold flats Twenty-six months of supply, and where it sits. 04 Rent or buy At Israeli yields, buying is a bet on capital growth. 05 Purchase tax calculator Including the oleh regime rewritten in August 2024. 06 Years of income Tel Aviv is 27.5 years of an average salary.