Rental prices in Israel on the rise after a period of decline

Rental prices have increased in the housing market, with the most significant rises seen in Jerusalem and Haifa. Prices in Jerusalem have increased by 6.8% compared to March of this year, while in Haifa they have risen by 4.5%. Herzliya saw a 3% increase in rent, Petah Tikva by 2.2%, and Netanya by an average of 0.4%. Despite these increases, rental costs across the country have decreased by 2.5% over the past month. The biggest decrease was recorded in Ashkelon at 3.3%, followed by Tel Aviv-Jaffa at 3.1%, Holon at 2.7%, Rishon Lezion at 1.4%, Beersheba at 0.7%, and Ashdod at 0.4%.

Supply in the real estate market has decreased by an average of 11.3% from February to March. According to mako.co.il, more apartments for rent have appeared in cities in the center of the country, possibly due to the introduction of apartments intended for tourists now being offered on the regular rental market. This shifting supply trend is influencing rental prices and availability in various areas.