Real estate sales in Israel fell 15% year-on-year in December 2023. Chief Economist at the Israeli Ministry of Finance, Shmuel Abramson, said that the war on Gaza, coupled with high interest rates, made 2023 one of the worst years ever for the country's real estate sector.
Globes newspaper estimated that the Gaza war led to a decrease in the volume of transactions in the residential market by 33%, while the rise in interest rates contributed to a 30% decrease.