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54% of appraisers: "Government plan will not lower housing prices" Israel today

2021-12-05T11:04:16.331Z


54% of appraisers: "The housing plan will not affect apartment prices at all" • In the renewal reform, the results are even lower: 62% think it will have no effect


Vote of no confidence in the government housing plan:

Real estate appraisers believe that it will not help lower housing prices in the medium and long term.

Some argue that it will lead to the opposite result and that prices will continue to gallop forward in the coming years. 

A survey conducted by the Bureau of Real Estate Appraisers through Yariv Drori, chairman of the bureau's market data research committee, among about 500 bureau members, shows that 54% of respondents said that the government housing plan will not affect housing prices. 35% answered that it will lower prices To a small extent, about 10% believe that the plan will actually lead to an increase in prices.

As for the reforms in the field of urban renewal, the appraisers were not under the impression that they would lower the prices: 62% believe that lowering the majority of tenants needed to promote eviction-construction from 80% to 66% will not affect prices, 27% think it will lower it slightly.

Among the government's moves, it is proposed to raise the purchase tax on a second apartment from an initial rate of 5% to 8%.

About 42% of the appraisers believe that the move will not affect apartment prices, and 40% answered that it will slightly reduce prices. 

How will the plan affect apartment prices ?, Photo: Data: Bureau of Real Estate Appraisers

Self-licensing: less time, same money

Regarding the issue of self-licensing: More than 80% of respondents believe that self-licensing may shorten the duration of obtaining a building permit, but 66% responded that the move will not affect apartment prices.

Another move by the government is in the field of rental housing: increasing the share of institutional entities in the residential rental market in order to strengthen the supply of long-term rental apartments.

52% of appraisers believe that the move will help lower rental prices to a small extent.

42% of respondents believe that the move will have no effect on the prices of apartments for sale.

How will the reduction of the required majority in evacuation-construction affect?

The government allows the addition of 30,000 foreign workers to the construction industry in the country, and real estate appraisers disagree on the extent of this measure's effect on prices: 46% believe it will have no effect and 47% answered that the measure will lower prices slightly.

The last question in the survey dealt with the integration of green building regulations in saturated construction projects starting in March 2022 gradually.

The vast majority of 65% of real estate appraisers believe that the move will lead to a slight increase in apartment prices.

11% responded that it would raise prices significantly.

How will the increase in the purchase tax affect ?, Photo: Data: Bureau of Real Estate Appraisers

Haim Mesilati, Chairman of the Bureau of Real Estate Appraisers: "There is no doubt that the government housing plan is welcome and includes significant moves that the state plans to implement. The relevant ones were more in-depth on the issues on the agenda in the industry, in order to rescue the citizens of the State of Israel from the housing crisis. "

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Source: israelhayom

All news articles on 2021-12-05

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