The Bank of Israel is worried about the soaring real estate market, but it doesn't think there's a bubble, officials have said. And despite the stock market and the real estate market, it won't be raising interest rates, due to other economic factors.
Despite the increase in local housing prices, the Bank of Israel doesn't see any real estate bubble: Current housing prices are on average only 15% higher than prices in the 1990s, the bank says.
