Israel Business News 2012

Israel Hot Real Estate Market

April 2012
According to a survey by CNBC based on real estate agents Knights Frank Israel is the third hottest housing market in the last five years with a price growth of 54.5%.
China tops the list with a price growth of 110.9% in the last five years.

Israel's Credit Rating Upgraded

September 2011
Standard & Poor's upgraded on September 9 Israel's foreign currency credit rating from the previous A to A+ with a stable outlook.

The upgrade which is the first since November 2011 is based, inter- alia, on future government royalties from sea gas reserves and the assumption that the Israeli budget would not be enlarged due to the recent social protest.

Israel's New Monthly Minimum Salary

June 2011
Starting 1.7.2011 the new minimum gross monthly salary for employees aged 18 years or more will rise to IS 4,100, or IS 22 per hour for a total of 186 working hours per month.

Israel's Economic Forecast 2011

March 2011
The governor of the bank of Israel Prof. Stanely Fischer presented on March 30 the annual 2010 bank's report.
The estimated GDP for 2011 is 4.5% compared to the previous 3.8% forecast.
The unemployment forecast for the next years is 6.1% for 2011 and 5.9% for 2012 compared to 6.7% in 2009.

Israel's Hot Real Estate Market

October 2010
According to the Washington Post Israel is the fastest rising property market on earth.
Based on the trade magazine Global Property Guide Israeli housing prices in the second quarter of 2010 was the 6th fastest in a ranking of 36 countries, while taking into account the two years ending in June 2010 Israel's real estate market was the fastest growing market with 30% rise.
The Israeli finance minister believes the rise, due to over demand against supply, will be solved within two years by taking care of the supply side.

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