| The slowdown in Israel's housing market is mainly due to rising unemployment, says "Global Property Guide" in its survey for the second quarter of 2012. It also cites "steps taken by the government and the Bank of Israel, and to domestic social unrest over the rising cost of living. In addition, worsening global economic uncertainty has not helped."
Israel is ranked 22nd out of the 38 countries reviewed in the current survey. "In Israel, the average price of owner-occupied housing dropped 1.52% year-on-year in the second quarter...............................................Full Article: Source
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