Israel's Finance Ministry: Tax on Three or More Apartments Will Bring Down Rents, House Prices

On Monday, Bank of Israel Governor Karnit Flug said that buying a first property may become cheaper, ‘even if it comes at the cost of higher rents.’

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The proposed tax on owners of three or more apartments will bring down both apartment prices and rental prices, countered the Finance Ministry’s budgets director Tuesday, in response to a statement by Bank of...