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Israelis took out record amount in mortgages in 2020 despite pandemic downturn

11 10 7

Israelis took out a record amount in mortgages in 2020 despite the economic mayhem caused by the pandemic.

The Bank of Israel published data last week revealing that Israelis took out NIS 78.1 billion ($23.8 billion) worth of mortgages last year, the largest amount ever for a single year.

The figure represented a 15% increase over 2019.

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Home buyers took out slightly over NIS 8 billion ($2.4 billion) in December, the highest figure for a single month besides March.

The record-breaking figures were partly due to conducive tax policies the government put in place toward the end of the year, which spurred real........

© The Times of Israel

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