In Jerusalem, the average price per sqm in the city centre is ILS 26,000, and ILS 17,000 outside the centre (2024 data). Prices have risen 3.2% since 2024.

How much is rent in Jerusalem in 2024?

A 1-bedroom apartment in Jerusalem rents for approximately ILS 5,500 per month in 2024. A 3-bedroom apartment costs around ILS 8,800/month.

Is it better to buy or rent in Jerusalem?

Renting is generally more cost-effective in Jerusalem. The price-to-rent ratio is 24.0x — it would take approximately 24.0 years of rental payments to equal the property purchase price. Current mortgage rates are approximately 4.50%.

What are mortgage rates in Israel in 2024?

The average mortgage rate in Israel is approximately 4.50% as of 2024. With a price-to-rent ratio of 24.0x, buyers should carefully weigh mortgage costs against rental savings.

What is the price per sqm in Jerusalem?

The average property price per square metre in Jerusalem city centre is ILS 26,000 in 2024. Outside the centre, expect to pay around ILS 17,000/sqm.