The average closing price for home sales in Tel Aviv dropped 13% from the third quarter of 2010 to the third quarter of 2011, according to MNA Real Estate Research. This wasn’t just due to falling demand, it also reflected a shift of activity toward cheaper neighborhoods in the more rugged south.

MNA’s survey reveals that homebuyers in the city have recently been enjoying a better bargaining position, with sellers having to compromise. The decline in prices intensified toward the end of the year…………………………………….Full Article: Source