Netanya’s illusion: why housing prices in the city go down?
Prices check by neighborhood in Netanya Israel shows a decline of 10% -24%, but the market examination by apartment’s size in Netanya Israel reveals a decrease of only 6%.
Statistical analysis of 2011 reveals a significant price declines in Netanya Israel : the neighborhoods checked in the MNA survey show a decrease by 10% -24% in the prices of deals on 3-5 room apartments. Only two expensive neighborhoods prices rose in the city Netanya Israel – EIR and AGAMIM. But in this case the statistics were misleading.
Examination of the Netanya Israel market not by neighborhood but by the size of apartments shows that apartment prices in each size category indicates a decline rate of 25-70 thousand shekels – about only 6%. Bigger apartment’s prices of six or more rooms also recorded a slight increase. “In this examination we see that price reductions recorded -disappear. Price reductions are minor, and certainly can be looked as a statistical error”, claimed by the MNA.
No doubt the financial scope of the transactions in Netanya Israel shows a great fall, and it demanded a more thorough examination of the market dynamics in the city. The analysis reveals what was the dramatic transformation – Pattern of housing purchases in Netanya Israel has changed significantly. Buyers in Netanya Israel bought significantly smaller apartments to buy in cheap. This explains the drop in prices of the transactions.
The number of sales in Netanya Israel dropped by about a third, while changed completely the mix of apartments purchased by the size. Also the number of deals recorded a change in the mix. More expensive neighborhoods which have mostly large apartments, there is a big drop in the volume of transactions in Netanya Israel .
The relations between buyers and sellers in Netanya Israel last year was low throughout the period examined. This indicates that the supply answered the demand in Netanya Israel , and places the bargaining power of buyers in their hands. At the beginning of 2011 there was a slight increase in the index, indicating a relative increase in demand for 2010 and 2009.