| Israel's real estate market was characterized in 2012 by a further rise in housing prices, at an average rate of 4.5%. While in 2008 Israelis needed less than 100 salaries on average to buy an apartment, in 2012 they needed as many as 128 salaries.
In the United States, for the sake of comparison, one can buy an apartment with just 55 salaries on average. In Jerusalem there have been hardly any changes in prices, with a four-room apartment in the capital costing NIS 2.4 million ($640,000) on average. But Jerusalem's stable figures do not reflect the major fluctuations in other cities: In some cities prices soared, in others – they plunged...............................................Full Article: Source
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