A new study says buying a home is cheaper in Israel than in many other countries, but it also presents a dilemma for Israelis who want to pay down their mortgage.
According to the new study by the think tank Center for Israel and Jewish Affairs, a mortgage in Israel is the second most expensive in the world after the United States.
According the study, the average interest rate for a home purchase in Israel was 3.9 percent.
That’s less than the 3.7 percent rate for comparable properties in Australia, Canada and South Africa, but more than the 2.8 percent rate in France, which is the most expensive country for home purchases in the study.
“We have the highest interest rate of any country in the region and the lowest home prices,” said Nasser Abayomi, a professor at the Institute of Housing Studies at Tel Aviv University.
“So, if you want to buy in Israel, you’re going to have to pay a little bit more than a few countries.”
According to statistics released by the Central Bank of Israel, there are more than 300,000 people with credit cards with a total balance of more than 100,000 shekels.
That is a record amount of money for the country, according to statistics from the Central Bureau of Statistics.
That figure does not include many foreign buyers, such as British expats who buy properties for less than $100,000.
The central bank statistics say that in the last five years, home sales have increased by 6 percent, which was the fastest in 20 years.
But the rate of growth has been limited, because many homes are sold and people cannot afford to buy them.
“When the economy is growing, there is an increase in people buying, so there is a higher demand for homes,” Abayoma said.
“But when the economy slows down, the demand is smaller, so prices will have to fall.
That will lead to the higher cost of homes.”
The study, titled “Home prices in Israel: How much is too much?” was published last month by the Centre for Israel Studies, which researches the economic and social effects of the Jewish state.
The study said that a buyer in Israel could buy a house for the average monthly salary of $1,800 and have a mortgage of $7,700.
But that would be about the same as a buyer from the United Kingdom, the United Arab Emirates or the United Republic of Tanzania.
The study did not look at the interest rate on a mortgage, but Abayom said it was likely that it was the same for all of the countries studied.
“The interest rate is higher in Israel because the people there have to keep paying the mortgage, so it’s higher than many countries,” Aboyomi said.
The report also said that if a buyer was to make $150,000 a year and pay an average monthly mortgage of around $1.5 million, the interest rates would increase by 1.4 percent.
“If you buy a property in Israel and pay $2,500, you could buy it for $8,000 or $10,000, depending on how you choose to pay it,” Abyomi said, adding that in many cases the price is cheaper than the house’s real estate market value.
Abayomi said that although the average cost of owning a home varies, the price can vary a lot depending on the home’s location.
“For example, if it’s in the southern part of the country and it’s an old home, it’s more expensive than a new home that is a few kilometers away,” Abbayomi said.
“In Israel, if the value of the property is higher than its market value, the real estate price will be higher than what you would pay in other parts of the world.”
Abayom believes that if people don’t pay a significant amount of attention to their home price, they could end up spending more money than they would have otherwise.
“I think it’s good that people have the awareness to pay attention to it,” he said.