A recent study by Eldar Marketing shows that in 2012 there was an increase of 31% percent in
apartment purchases by singles compared to 2011. It appears that many young people are
marrying at a later age. Many have gained a foothold in their careers by this time and have managed to save enough money to purchase an apartment.
This has had an important effect on the real estate market.
The study shows that 80% of the singles that purchased apartments this past year
purchased small apartments of 2 to 3 rooms. Around 20% purchased larger apartments, planning to rent them out and cover the mortgage payments and rent smaller apartments in areas that they would prefer to live in.
Many buyers purchased small apartments at prices from 1 million to 1.5 million NIS.
They looked for apartments in the urban centers close to entertainment centers and were
interested in apartments with parking spaces and porches. About 70% of these purchasers
were men and about 30% are women.
Tel Aviv has remained the singles capital of Israel. However, the high prices of apartments in
Tel Aviv have chased away many young purchasers to the outlying cities of Ramat Gan and
Givatayim. Those who refused to give up on life in Tel Aviv purchased larger apartments in
other cities where the prices of apartments are lower, rented them out and then rented for
themselves a small apartment in Tel Aviv with the rent collected from their larger apartment
elsewhere.
