Regardless of the conflict with Iran, mortgages price practically NIS 9 billion have been taken throughout June, the third highest determine this yr, in keeping with preliminary information from the Financial institution of Israel, though the whole financial system shut down for practically two weeks.
The information additionally present that the amount of deferred mortgages, primarily for the acquisition of residences as a part of builders pay 20% now 80% later affords, has decreased, however the quantity nonetheless stays excessive, regardless of the restrictions imposed by the Financial institution of Israel on this matter.
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The quantity of mortgages taken in June was surprisingly excessive at NIS 8.91 billion. This quantity doesn’t essentially imply that the actual property market continued to perform at a excessive degree in June, however quite that banks permitted mortgages on offers from earlier months, a few of which have been recycled mortgages.
Probably the most attention-grabbing section of mortgages is the quantity of deferred mortgages. On the finish of March, the Financial institution of Israel introduced a collection of rules that restrict the power of builders to launch such operations, however it seems that the restrictions are slowly affecting the market, and it’s possible that many offers have been processed by banks even earlier than the restrictions, in order that the amount of mortgages remains to be excessive, though their relative price has decreased.
In June, banks permitted such mortgages price about NIS 1.3 billion, which doesn’t exceed the quantity in earlier months. On the similar time, these mortgages represented 14.5% of all mortgages taken in June, which is the bottom proportion since January 2024. The numbers are nonetheless very excessive relative to the interval earlier than the implementation of those (the second half of 2023), when such mortgages accounted for a single-digit proportion of all mortgages taken.
Revealed by Globes, Israel enterprise information – en.globes.co.il – on July 14, 2025.
© Copyright of Globes Writer Itonut (1983) Ltd., 2025.
