Building starts fell in the first half of 2016, according to Central Bureau of Statistics figures published today. Building starts totaled 24,094, 7% fewer than the 25,869 in the first half of 2015 and 2% fewer than in the second half of 2015.
Building starts totaled 12,163 in the second quarter, up 2%, compared with 11,931 in the first quarter, but 5.2% fewer than the 12,837 in the second quarter of 2015.
Building starts reached a peak of 50,000 in 2015, the most since 1997.
The figures for the first half of 2016 are nevertheless likely to be disappointing for the Ministry of Finance, which is trying to increase the volume of building starts to 60,000 annually, or even 70,000. The number of building starts could increase in the second half of the year.
Building starts were up 18% in the first half of 2016 in Jerusalem, compared with the corresponding period last year, but plunged 35% in Haifa during the same period.
Published by Globes [online], Israel business news - www.globes-online.com - on September 14, 2016
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