Precipitation of houses under construction;
Why were 83% of the construction sites not completed in 1403?
Expect the housing market:
1 The inspection of the "last link" of the housing production line in Israel indicates the existence of a "bottleneck" in the construction path until the completed residential unit is delivered to the buying and selling market.
2 In 1403, 210,000 residential construction workshops were operating in the cities, and some of them started building at least two years before;.
But in 1403, only 40,000 workshops were completed and 84% of construction projects remained "unfinished or half-finished".
3 The rate of unfinished construction workshops was lower in the survey conducted by the Statistics Center in 1402; 78 percent.
4 The situation in 1403 means that about 772 thousand housing units under construction were "deposited" in the housing production market and the builders are not "enough to complete".
5 This volume of semi-finished housing is equivalent to two years of "issuing building permits" in the country, which shows the high level of precipitation created in the construction market.
6 In addition to the statistics related to workshops, the number of residential units completed in 1,403 and 1,404 is a sign of confirmation of the blockage in the construction market and the market for the new supply of apartments.
7 In 1403, 374 thousand housing units offered to the consumer market were built and completed.
In 1404, the perfect housing supply reached below 320,000 units.
8 During the last years, the output of housing units from the average construction market was 20% lower than the input or the start of construction.
9 There is a third figure for measuring the dimensions of the "housing supply" bottleneck, and that is.
The real growth of the investments is in the field of construction completion, which was a negative 27% in 1,403.
In recent years, the average growth of this index was a negative 22%.
1 1 What created the "bottleneck of the supply of housing units under construction for the consumer market".
The inflationary conditions and the instability of construction costs in recent years were on the one hand and the lack of efficient buyers in the housing market for the easy sale of newly built units on the other.
◀ The cumulative effect of the annual gaps between housing production and housing completion caused an increase in the number of unfinished workshops.