Contractors: Building Starts to Fall 12% in 2014

Uncertainty in sector, including long wait for Lapid’s zero-VAT break, has led to slowdown.

Residential-construction starts will likely drop 12% this year from 2013, putting another squeeze on housing prices, the Israel Builders Association warned on Wednesday, pointing the finger at Finance Minister Yair Lapid and his plan to exempt many home buyers from value-added tax.