Finance Minister Bezalel Smotrich, Construction and Housing Minister Yitzhak Goldknopf and Interior Minister Moshe Arbel presented the government housing program this evening (Sunday) at Kiryat Havlan in Tel Aviv.
The main points of the ministers' plan, which was approved by the government, are the expansion of the employment of foreign workers in the real estate market, the provision of grants to encourage construction, the encouragement of Israelis joining the industry, the easing of building permit applications and the allocation of NIS 1.1 billion for affordable housing in the periphery.
Construction starts throughout the country (illustration), photo: Ami Shoman
The highlight of the program, which includes two billion shekels, is the subsidy for apartments in the periphery.
The apartments in these areas will not cost more than NIS 800,000 per unit, as promised by the Minister of Finance, and priority for their purchase will be given first to the reserve officers.
Finance Minister Smotrich: "The Ministry of Housing, the Ministry of the Interior and the Ministry of Finance, which budgets for the program, are taking part in this important project. We entered this war very strong. We are going through the crisis very well. The shekel is getting stronger, we are meeting the goals of lowering the interest rate. At the same time, the war creates challenges and therefore the budget mainly symbolizes convergence measures and cuts. The housing market, real estate and the employment of the ultra-Orthodox have stopped a bit because of the war.
We understand that we need to give a boost to the real estate market. Our challenge in this market is to create a situation where we produce many construction starts as in the past."
Finance Minister Smotrich, photo: Koko
Finance Minister Moshe Arbel: "The decision plays a central role in the fight against the cooling of the real estate market following the war.
I visited the Jerusalem district about a week ago.
Jerusalem is expanding and the hand is still tilted.
This is an important and necessary first step, but we must make sure that the real estate market continues to grow for the sake of the citizens of Israel."
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