Israel’s Real Estate Market: Second-Hand Apartment Prices Rise to NIS 2.5 Million

According to data from the real estate website Yad2, prices for second-hand apartments in Israel have increased by an average of 5% over the past year, reaching approximately 2.5 million shekels.

The most notable rise was seen in the four-room apartment segment, where average prices climbed by 6.8%, reaching 2.33 million shekels. Three-room apartments saw a 5% increase, now averaging 1.93 million shekels, while five-room apartments rose by 3%, reaching around 3.1 million shekels.

Cities with the highest demand for second-hand properties include Jerusalem, Haifa, Be’er Sheva, and Tel Aviv. These urban centers have become hotspots for buyers, driving up prices amid strong market activity.

An analysis of 2024 data indicates that the primary driver behind the price increase is a significant surge in demand — up 37% compared to 2023 — while the supply of available properties has remained nearly unchanged. The most pronounced gap between supply and demand was observed in the four-room apartment segment.

These trends highlight the dynamic nature of Israel’s second-hand housing market, where persistent high demand continues to put upward pressure on prices.