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Bethel Finance news:
The price of apartments in Israel has fallen for the second consecutive month and the fall is strengthening. The Central Bureau of Statistics index for second hand homes reported this evening that the price of Israeli apartments fell 0.9% in October following a 0.4% fall in September. The index was published together with the Consumer Price Index (CPI) for November.
It should be stressed that the data on Israeli home prices in October is provisional and the final figures will be published in the coming months.
The CPI's housing costs clause showed a 0.7% drop in November stemming from a 1% fall in rents.
The fall of apartment prices during September and October follows rises in every single month since January 2009. Between January 2009 and August 2011 apartment prices rose 38%.
In the final quarter of 2011 the price of an average apartment in Israel is NIS 1.08 million, 3.2% down from the preceding quarter.
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