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Pessimistic forecast for 2022: "Housing prices will skyrocket" Israel today

2022-02-17T12:43:36.418Z


According to Raul Srugo, chairman of the Contractors Association, prices will rise by 8% -9% ● He believes that the auction method is the problem: "A situation has arisen where land and apartment prices just keep climbing"


Housing prices will rise by 9% -8% in 2022, predicts the chairman of the Contractors Association Raoul Srugo, who accurately predicted the double-digit rise in housing prices last year.

The pessimistic forecast comes after the Central Bureau of Statistics released dismal data on the housing market on Tuesday, according to which there was an 11.3% increase in apartment prices in the past year, a figure that distances the apartment dream from many young couples.

Chairman of the Contractors Association Raoul Srugo, in 2019, Photo: Photo Marcello

According to Srugo, "According to land prices, in 2021 apartment prices will continue to rise. The madness in land prices is the main cause of the rise in apartment prices. An entrepreneur who bought land in Beer Yaakov for NIS 4.1 million a few months ago is building on the fact that apartment prices in Beer Yaakov will be 2.5 million. Shekels and up, when only a year ago they were around a million and a half. "

Srugo notes that the auction method, according to which the state markets land at the highest price, is problematic: "It creates a situation where land and apartment prices go up all the time. The price of land can be frozen, and the auction will be on something else. The most average of all bids will win. "

He continues: "The state wants to increase its income from the sale of land. The state received about NIS 30 billion from the sale of land last year. It is a kind of schizophrenia - the state presents plans to lower apartment prices, but charges huge sums from the sale of land."

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Source: israelhayom

All news articles on 2022-02-17

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