As the mass evacuation of Israel’s northern border zone continues, the rental market in adjacent areas is feeling the impact. Rents in major northern cities have increased significantly, attributed to the 68,500 evacuees seeking rental accommodations. With the government providing housing aid of up to NIS 20,000 per month for families, evacuees are fueling demand in the rental market.
Real estate experts have noted a surge in rental prices, particularly for houses with land in rural areas like the Western Galilee. The initial spike in rents has since moderated but remains higher than pre-war levels. While some landlords have been accused of exploiting the evacuees’ situation, most are cooperating and providing flexibility in rental agreements.
In cities like Tiberias and Afula, rents have increased by as much as 20% since the war began, far exceeding the national average. Despite the challenges, there is a sense of revival in the rental market, with landlords adjusting to meet the needs of evacuees while also navigating uncertainties about the future.
Overall, the rental market in northern Israel is witnessing significant changes due to the ongoing conflict, highlighting the unique challenges and opportunities for both landlords and tenants.
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