Real Estate News - Written by israelestates on Sunday, November 2, 2008 15:03 - 0 Comments

Rent prices in Tel Aviv down by 2.3 percent

Rent prices in some 2 to 3 room apartments in Tel Aviv have dropped upto 2.3% during october, according to the Madas Index published today. This is slight continuation of rental prices that have slightly dropped. Changes in rent prices are very small and locations such as jerusalem and Haifa have had a slight rise in rental prices.

Editor Note : The Madas index mainly represents properties rented by students and now that the year has started there is less demand for student rental prices should come down a little regarding properties that are intended for students, and lets not forget that it is getting cold, with less people moving.

Please find below the comparision for October vs. September (rental fees requested by owners)

South Tel Aviv : 2 room apartments are down 2.3 percent to 2,605 NIS a month. 3 room apartments have been rented at 3,250 NIS a month, no change from September

Central Tel Aviv : 2 room apartments a 1% cheaper (horay!) at 3,290 NIS a month, while 3 room have gone up 0.3% to 4,570 NIS.

North Tel Aviv : 2 room apartments are up 2% standing at 3,610 NIS a month. 3 room apartments a 2% cheaper, down to 4,690 NIS a month.

Ramat Gan & Givatayim : 2 room apartments have been rented for 3,000 NIS a month, up 0.8% compaired to September. 3 room apartments are 0.8% cheaper at 3,780 NIS a month.

Usually the prices are topped up at the beggining of the academic year, but due to the finacial crisis, property owners seem to have kept the prices steady without much of a change.

We will continue to monitor the prices and keep you updated.

Share and Enjoy: