After 2015 showed zero growth in residential construction, 2016 will be yet another one in which the government failed to increase output.
Israel real estate
The Pi Glilot complex in Tel Aviv used to store oil, but landowners at the site could really strike it rich if development plans ever come to fruition.
Report by the Shoresh Institution says property investors are propping up market where supply has been exceeding demand and that situation can’t last much longer.
Decision will save hundreds of kibbutzim and moshavim and the government hundreds of millions of shekels, speed up land development.
Treasury figures show 14% drop in home purchases for investment.
Move aims to speed construction with imported workers, better technology and alleviate the housing shortage.
The more well-to-do areas of Haifa have traditionally been near the top of Mt. Carmel, but Neot Peres has brought them down to the shoreline.
Small apartments have proliferated in recent years, and that calls for a completely different approach. The solutions are in better design and innovative furniture concepts.
As Israel’s population ages, demand for specialized housing is growing fast — faster than it is being developed: By one estimate, Israel will need 29,000 more units over the next decade. Space will be tight for those who want it.
Bank Hapoalim’s Clara Zwergel says low interest rates, inadequate supply and the peculiarities of the Israeli market will prevent a sharp drop.