Despite assurances from Finance and Housing Ministers in recent years and from Prime Minister Binyamin Netanyahu, to lower housing prices, the cost of apartments in Israel increased on the average of 2.5% in the last quarter. In fact, Finance Minister Moshe Kahlon, who heads the Kulanu party, announced that if he fails in lowering the price, he will not seek office a second term.
Among the ministers who announced they are committed to lowering housing prices in Israel were PM Netanyahu during the past decade along with former Housing Minister Uri Ariel, former Finance Minister Yair Lapid, current Housing Minister Yoav Gallant, current Finance Minister Moshe Kahlon.
However, recent statistics released shows the opposite is true and the cost of apartments continue to increase.
Many feel that despite an increase in construction, it takes too long to build apartments and the nation fails to emerge from the housing shortage as the rate of building does not pass the demand for homes. MK Uri Maklev announced that instead of seeking to tax persons with three or more homes, the government has to simply build more homes at a faster pace and see to it the homes are priced for Israelis, not foreigners seeking luxury vacations homes and investments.
(YWN – Israel Desk, Jerusalem)
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One Response
As alluded to in the article, the only way to reduce the cost of housing to increase construction.
Yet, considering that Israeli housing construction is such a hot-potato in international circles, it’s hard to imagine how these ministers expect to deliver on their assurances without the cooperation and commitment of the ruling party, something that has been sorely lacking for too long.