Housing rental prices expected to accelerate

ISRAEL - Report 26 Mar 2018 by Jonathan Katz

Recent economic indicators point to fairly steady growth, and macro fundamentals remain shekel positive with accelerating exports (both services and industrial) supporting the CA surplus. In other economic news, we have revised our inflation forecast upwards for April to 0.4% m/m (from 0.3% m/m) due to higher oil prices supporting higher local petrol prices. March: 0.2% m/m, 0.7% in the next 12 months.

Zoom in: A close look at the housing market points to slowing residential housing activity and steady and strong household creation. In addition, investors (second-home buyers) are net sellers in the market, further reducing rental supply. We expect rental prices to increase by 2.6% NTM.

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