Developer Financing Incentives Reach 30% as Israel's Home Sales Weaken

Developer financing incentives covered 30% of qualifying unsubsidized new-home sales in August, according to the Finance Ministry Chief Economist's housing review disclosed on October 15. The measure covers homes due for delivery at least a year later in the Central, Tel Aviv, Hadera, Netanya and Beersheba regions. The share rose for a third consecutive month, from 20% in May, and reached 73% in Hadera. Across Israel, buyers purchased 7,532 homes in August, including subsidized transactions, down 1% from a year earlier and 2% from July. Excluding subsidized deals, purchases totaled 6,242, falling 5% on both comparisons.