The government unveils its housing plan, aiming to quickly increase the number of apartments to lower prices and alleviate the ongoing crisis that has seen prices rise by 8% over the past year.
The ministries of finance, construction and interior say in a joint statement that the 2022-2025 plan will shorten the bureaucratic process and overhaul Israel’s real estate landscape.
The plan sets a target of starting construction of 280,000 homes over the next four years — significantly more than in recent years — passing plans for 500,000 more housing units, publishing tenders for 300,000 homes on state-owned land, and having 180,000 successful such tenders.
The plan will invest NIS 8 billion ($2.5 billion) in developing transportation, drainage and sewage infrastructure; NIS 5.5 ($1.75 billion) in creating new kindergartens and schools; more than NIS 2 billion ($630 million) in developing, planning and removing hurdles for new homes in the Arab community; and NIS 640 million ($202.6 million) to encourage municipalities to approve construction permits.
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From the Liveblog of
Sunday, October 31, 2021
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