Israel’s Finance Minister Yair Lapid’s plan calls for the construction of 25,000 new residential units annually, and for first time, greater Tel Aviv & central Israel would be home for majority of the building.
Finance Minister Yair Lapid unveiled on Wednesday his plan to reduce housing prices in Israel, calling for 25,000 new residential units to be built annually.
The greater Tel Aviv area is a priority region under Finance Minister Yair Lapid’s housing plan – Photo: Moshe Shai
The plan will be presented to the Housing Cabinet at its upcoming meeting on Monday.
The greater Tel Aviv area, greater Ashkelon area, central Israel, Jerusalem and Haifa would be defined as regions of demand, where 15,000 residential units would be built annually.
If implemented, the plan would mark the first time that the greater Tel Aviv area and central Israel would be given priority for new housing construction.
The plan would also change how planning committees work, granting them emergency powers, including the authority to seize and clear land for construction.
Lapid’s goal is to reduce the prices of both new and existing apartments.
The plan also calls for constructing new residential units above public buildings, such as schools, malls and community centers.
View original Israel Hayom publication at: http://www.israelhayom.com/site/newsletter_article.php?id=9625