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The Financial institution of Israel’s concern follows the rise in mortgage taking with excessive charges of leverage of 60% – 75% of the property.
The Financial institution of Israel has summoned the CEOs of the nation’s main banks to a video convention name on the rise in danger of the financial institution’s actual property credit score portfolios, sources near the matter have advised “Globes.” The Financial institution of Israel’s concern follows the rise in mortgage taking with excessive charges of leverage of 60% – 75% of the property.
The info in regards to the rise in danger in the true property credit score portfolios of banks was contained within the Financial institution of Israel’s survey of the banking system for the primary half of 2021, which was printed final week. The assembly with the financial institution CEOs at this time, by which Financial institution of Israel Governor Prof. Amir Yaron and Supervisor of Banks Yair Avidan will take part, will additional stress the dangers.
Israel’s actual property market has been booming over the previous yr with a significant rise within the variety of offers, rising costs and the acquisition of costlier houses with increased financing. In August alone NIS 11.9 billion price of mortgages was taken whereas the Madlan actual property gross sales and rental website discovered that over the previous yr costs of flats in new tasks within the Bavli neighborhood of Tel Aviv have risen 26% and in Tel Aviv metropolis middle by 25%.
These worth rises have seen the typical mortgage taken in 2021 rise to NIS 881,000, up 13% from 2020.
Revealed by Globes, Israel enterprise information – en.globes.co.il – on November 14, 2021.
© Copyright of Globes Writer Itonut (1983) Ltd., 2021.
Yair Avidan / Photograph: Rami Zarniger , PR
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