The house price index (base year 2015) posted an increase of 1.8% (year-on-year) in the second quarter of 2020, compared to the same period of the previous year, according to the National Institute of Statistics (INS).
In this regard, the prices of apartments rose 3.7% in the second quarter of 2020, compared to the same period last year (9.5% the average recorded over the last five years 2015-2019), those of housing (villa or Arab house) increased by 1.9% (5.4% the average for the period 2015-2019), while the price of residential land grew 0.7% (6.1% the average for the period 2015-2019).
On the other hand, between the first and second quarter of 2020, the index fell by 0.6%, due to a decline in land prices by 2.2% compared to the first quarter, according to the institute.
The second quarter of 2020 also saw a remarkable drop in real estate transactions by 49.2%, compared to a decline by 24.8% in the first quarter of the year.
This decline concerned transactions relating to different types of residential real estate (housing, apartments and land).