Real Estate

At the end of three months of discussions, the National Planning and Construction Council announced that it had decided to immediately freeze dozens of urban renewal projects around the metro stations in the Gush Dan area, which include hundreds of apartments, and set restrictions on future projects at a distance of about 100 meters from the stations, which include a potential of tens of thousands New apartments. This, as part of the approval of the outline for the promotion of TMA 38 projects in the area of ​​TMA 70 - the national outline plan for the area of ​​the metro system in the Tel...

Veev, which develops innovative construction methods, is laying off more than 100 employees from its 400-strong workforce. At the development center in Israel, which employs 100 people, about 20 people will be laid off. Veev, founded by Ami Abrahami and Amit Heller, has developed capabilities for building modular homes. Veev's working method involves manufacturing complete and closed walls in the factory, so they pre-include systems such as plumbing and electricity. Assembling a house in the field takes about two weeks. The company stated in the past that they have all the necessary...

The volume of mortgages taken out by home buyers in October dropped by 21% compared to September - according to data published today (Sunday) by the Bank of Israel. The banks marketed mortgages amounting to only NIS 6.089 billion, compared to NIS 7.7 billion in September. Compared to October 2021, this is a decrease of 43%

The fourth lottery of the "discounted apartment" program is underway: the Ministry of Construction and Housing and the Israel Lands Authority (RMI) announced that another lottery, which includes about 7,000 discounted housing units throughout the country, will open at the end of the year (Wednesday, 12.28.22) and will be closed About a week and a half later, with the beginning of the new civil year (Sunday, January 8, 23). So far this year, about 21 thousand households have won the lotteries held as part of the program, which was promoted by the outgoing Minister of Construction and Housing...

The contractors sold only 1,819 apartments in October, which is a 68% decrease compared to October 2021 and a 34% decrease compared to sales in September - according to data published by the Central Bureau of Statistics (CBS). This is the lowest volume of sales recorded in the industry since the corona virus shutdown in April 2020

A slowdown in the pace of residential construction starts. According to data from the Central Bureau of Statistics, in the third quarter of 2022 (July to September), the construction of 14,675 apartments began. This is a decrease of about 5% compared to the corresponding quarter in 2021 when the construction of 15,482 apartments began. Compared to the second quarter of 2022 when the construction of 17,293 apartments began, this is already a 15% drop in the rate of construction starts. In fact, the figures for the third quarter of 2022 are the lowest recorded since September 2021

The fourth lottery of the "Discount Apartment" program, which was promoted by outgoing Minister of Construction and Housing Ze'ev Elkin, is underway - just before the government's swearing-in, probably tomorrow. According to a report by the Ministry of Construction and Housing and the Israel Lands Authority, approximately 6,000 discounted housing units will be raffled in 13 localities: Jerusalem, Ashdod, Haifa, Yehud-Monson, Ramla, Kadima-Zoran, Ofakim, Sderot, Nahariya, Nof HaGilil, Elkana, Horns of Samaria and Immanuel

The governor of the Bank of Israel, Prof. Amir Yaron, on Tuesday, summoned the CEOs of the banks in Israel to a meeting on the issue of interest rates on deposits and loans. The conversation that took place in the governor's office was relatively relaxed, but it can be called a "mild reprimand conversation", in which the governor criticized a lack of sensitivity towards the middle-class populations mainly those who pay high-interest rates on loans and when they have money in deposits and current accounts receive low interest, if at all, in an improbable manner of difference from the...

The housing cabinet met today (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

A booking site has begun to present a full price including VAT to Israeli consumers who purchase hotel accommodation and vacations in Israel. This was after a legal proceeding conducted by the Consumer Protection and Fair Trade Authority against the successful international site, which also included a NIS 2.5 million fine already in 2017