"The process of dispersing the Knesset will significantly reduce construction starts"

Eldad Nitzan, chairman of foreign labor corporations in the construction industry at the Chamber of Commerce: "A move that will significantly reduce construction starts from 70,000 to 40,000 new apartments."

Walla!

Real Estate

22/06/2022

Wednesday, 22 June 2022, 11:39

• Share on Facebook

• Share on WhatsApp

• Share on Twitter

• Share on Email

• Share on general

• Comments

  Comments

The storm in the political system can also be very damaging in the real estate field. If there has been a certain slowdown in recent months, then when looking ahead the trend is definitely likely to reverse.

" For the industry, "says Eldad Nitzan, chairman of foreign labor corporations in the construction industry at the Chamber of Commerce," this move will significantly reduce construction starts to about 40,000 new housing units in the coming year, instead of 70,000 new units planned for construction and housing increases by 20% during 2022/23 ".

More on Walla!

moving apartments?

What moving costs should you consider?

To the full article

Just when we started building on falling prices (Photo: Reuven Castro)

Eldad Nitzan (Photo: Yachz)

Nitzan explains that Interior Minister Ayelet Shaked is currently in Morocco to sign the first agreement to bring in about 3,000 foreign workers from the country, and the construction industry fears that the new political situation will stop this agreement.

"The move could lead to a change in the map of foreign workers in the construction industry in Israel, in light of the fact that Chinese foreign workers are taking advantage of the severe shortage in the construction industry and demanding huge salaries of about NIS 20,000 per month

. 30,000 foreign workers in the wet works, works not performed by Israeli workers, will also lead to a reduction in the wages of foreign workers and help contractors lower construction costs, given the fact that today due to the shortage of foreign workers the contractors pay these workers huge salaries.

Today, about 16,500 foreign workers are employed in the construction industry, about 2,500 of them from Ukraine.

Some have left Israel in the past two months to join their families who fled the country.

Hundreds of other foreign workers from Ukraine are also currently considering leaving Israel.

• Real Estate

• In the country

Tags

• Real Estate