Record mortgage taking in Israel in Q1
Israel's real estate market is red hot. Israelis took an all-time quarterly record NIS 22.3 billion in mortgages in the first quarter of 2021, the Bank of Israel reports, up 7% from the first quarter of 2020, and up 44% from the first quarter of 2019, Trend reports with reference to Globes.
In March 2021, Israelis took NIS 8.6 billion in mortgages, slightly lower than in March 2020, which was a record high month for mortgages, just as the Covid-19 pandemic began to strike.
Israeli investors have been flocking to the Israeli real estate market since Minister of Finance Israel Katz lowered the higher purchase tax for homeowners buying homes, who already owned an apartment.