Gov't to report more steps to cool real estate market

The measures will reportedly include higher taxes on the purchase of apartments for investment.

Minister of Finance Yuval Steinitz and Minister of Housing and Construction Ariel Atias will announce additional measures to cool the real estate market, at a joint press conference this morning. The measures will reportedly include higher taxes on the purchase of apartments for investment.

Just a month ago, on November 15, the government launched a series of measures to boost the housing supply in the short term, and lower prices. The measures include a reduction in the betterment tax for a limited period to encourage the sale of 1.9 million dunam (475,000 acres) of privately owned land.

Prime Minister Benjamin Netanyahu later said that more measures would be taken.

Published by Globes [online], Israel business news - www.globes-online.com - on December 16, 2010

© Copyright of Globes Publisher Itonut (1983) Ltd. 2010

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