In January 2025, NIS 7.3 billion was taken in new mortgages according to initial figures from the Bank of Israel. Although this figure is 50% down from December 2024, it should be taken into account that this was an exceptional month as many homebuyers took mortgages for new homes to be the VAT hike from 17% to 18% at the end of the year. Compared with January 2024, mortgage taking was up 30%, and up 15% from January 2023.
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Only 15.5% of the mortgages taken in January 2025 totaling NIS 1.13 billion were as part of buy-now pay-later deals with developers in which buyers put down only 10%-20% of the purchase amount now and pay the rest on occupancy. This is the lowest figure for such mortgages since April 2024.
Published by Globes, Israel business news – en.globes.co.il – on February 13, 2025.
© Copyright of Globes Publisher Itonut (1983) Ltd., 2025.
