Yoav Galant told "IDF Radio" that he is targeting supply and construction and hopes it will influence prices.
Minister of Construction and Housing Yoav Galant has told “IDF Radio" (Galei Zahal) that the government's target is not to lower home prices. He said, "My targets are related to supply and implementing construction and not price. I'm convinced that that will influence the price but on the price itself I have no control."
He added, "When you look at prices there are other factors such as the interest rate and the price of money and investment alternatives and other similar matters. I can't talk about these other things from a responsible perspective. I believe in the rules of free competition and the free market and I think that if you provide apartments at 25% less than the price was so far, then that will be an influence. How much will it influence? I don't know. I don't want to be a prophet."
Published by Globes [online], Israel business news - www.globes-online.com - on April 5, 2016
© Copyright of Globes Publisher Itonut (1983) Ltd. 2016
Yoav Galant (right)