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Survey: Israeli housing prices bucked global downtrend in Q1

Hadar Tadmor and Arik Mirovsky Haarez
Survey: Israeli housing prices bucked global downtrend in Q1 - Survey - Israeli - housing prices - downtrend

Of all the global real estate markets surveyed by Global Property Guide, Israel's posted the sharpest increase in housing prices during the first quarter of 2009.

The Guide found that housing prices generally retreated during the first three months of 2009. In fact, globally speaking, the quarter was the worst for home prices since the current crisis began.

Consumer confidence has been shaken worldwide, depressing personal spending. Also, unemployment has been rising and it's harder to borrow from banks, the Guide explains.

Of the 32 markets that the Guide studied, 27 reported a decline in housing prices after adjusting for inflation. In 12 of them, the retreat was greater than 10%.


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