Hosing cabinet approved a grant program for the purchase of second-hand apartments

The housing cabinet met Tuesday for the first time since the government was formed, and approved a grant program for the purchase of second-hand apartments as part of lotteries and the increase in grants for the purchase of apartments as part of the "discounted apartment" program in the periphery - the two main proposals of the Ministry of Housing and the Israel Land Authority that were announced yesterday.
Officials familiar with the program explain that detailed work was done on the issue and apartments were found in this price range, while the purpose of the program is mainly to "wake up the real estate market" which is suffering from stagnation in the volume of transactions. However, this is a pilot since if there are no realizations of eligibility, it is possible that the price range will increase. Prices today in Israel, there are only a few apartments in this price range.
Another program that was approved seeks to increase the grants given to the winners of the discount apartment program in the periphery from NIS 40,000 to NIS 50,000, as well as to increase the subsidy for the infrastructure development costs of the contractors who will build the projects of the discount apartment program by another NIS 30,000 from NIS 50,000 to - 80 thousand shekels. This is against the background of the recent failures of Rami's tenders in the peripheral settlements, and with the aim of successfully completing tenders in order to increase the number of construction starts.
The cabinet presented and approved the government's goals regarding increasing the housing supply until the end of 2023, among other things, the marketing of residential land for the construction of approximately 90,000 new housing units and the promotion of transactions for the construction of 60,000 housing units after the completion of the tenders by Rami; approval of plans for the construction of approximately 115 A thousand apartments by the planning administration; allocation of budgets for transportation infrastructure and the establishment of classrooms in new neighborhoods to be established by the Ministry of Finance.
Minister of Construction and Housing Rabbi Yitzhak Goldknopf: "The overarching goal of this cabinet is to speed up, simplify, and promote processes in order to solve the problem from the root and move forward on the way to the goal we are all aiming for, which is the solution to the housing crisis in Israel, which has been going on for too long. With God's help, we are going to make a revolution In housing that depends on all the participants here. It is in your hands and ours together. The responsibility for this lies with all those sitting here. Our commitment to goals and increasing the supply at this time is first and foremost the Ministry of Construction and Housing, but not only."