The real estate market has long since reached record prices that affect all Israeli citizens, which is now taking people to the streets again.
According to industry sources, the upcoming elections are bad news for those who want to buy apartments, as apartment prices are expected to rise dramatically.
According to Eldad Nitzan, chairman of foreign labor corporations in the construction industry at the Chamber of Commerce, "there is great concern in the construction industry that the process of dissolving the Knesset and going to new elections will lead to a halt in bringing about 10,000 new foreign workers into the construction industry.
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, as well as an increase in housing prices by about 20% during 2023-2022. "
Nitzan explains that "the interior minister is currently in Morocco to sign the first agreement to bring about 3,000 foreign workers from Morocco into the construction industry, and the construction industry fears that the new political situation will lead to a halt to the agreement.
"This 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 of workers in the construction industry and demanding huge salaries of about NIS 20,000 per month.
"The shortage of about 15,000 foreign workers in the construction industry in Israel will lead to a situation in which housing prices in Tel Aviv will reach about NIS 100,000 per square meter."
Haim Mesilati, chairman of the Bureau of Real Estate Appraisers, told Israel Today: "If I were a young couple now, I would make an effort to buy the apartment I can as quickly as possible, because the chances of apartment prices being cheap in the next year or two are nil.
I estimate that in the next six months, apartment prices will rise by 5%.
We have seen a 5-4% increase since the beginning of the year.
In other words, I believe we will end the year with a 10% increase. "
Mesilati explains the expected increase in a lack of trust in politicians.
"If the market used to give politicians a chance and believed that somehow one of them would come and not only speak well but do good, from recent systems we see that this market also does not give politicians a chance."
The Ministry of Construction and Housing responded: "Agreements on the issue already exist and are signed and at the moment there is no budget issue and therefore there is no connection between the dissolution of the government and the bringing in about 10,000 new foreign workers to the construction industry.
The Ministry of Construction and Housing is doing and will do everything in its power to ensure continuity in the real estate industry
Meanwhile, after 11 years, the tent protest is back.
To date, protest tents have been set up from the north to the south of the country.
The tents are located in Pardes Hanna-Karkur, Tel Aviv, Petah Tikva, Beer Sheva, Rosh HaAyin, Kfar Saba, Holon and Jerusalem.
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