First and Second Hand Real Estate in Modiin By: Ze’ev Shumacher
The Modiin real estate market is slowly awakening, as buyers understand that property prices will most probably not go down in the near future. While in most of the latest transactions buyers were local Modiin residents wishing to upgrade their homes, there is a slight increase in Jerusalemites looking into moving to Modiin. When Modiin was first inhabited in 1995, many new residents came from Jerusalem, as well as from Ramla and Lod, but in the last few years, most of the newcomers were from the greater TelAviv area, including Rishon LeZion and Holon. First-Hand Real Estate in Modiin Modiin’s first-hand real estate market has not undergone any major changes in 2012 and the figures resemble those of the previous year, while keeping in mind that January is traditionally a relatively slow month.
Following are figures received from the Ministry of Construction and Housing regarding first-hand housing transactions in Modiin in January throughout the last eight years. Year Sales Sales in January Total Annual Sales
2012
26
?
2011
28
388
2010
69
698
2009
13
806
2008
83
581
2007
40
1016
2006
70
540
2005
82
1231
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