Housing Ministry launches third mass land wave

Minister Ariel Atias continues to try to cut housing prices by boosting supply.

Minister of Housing and Construction Ariel Atias is continuing his efforts to lower housing prices by overwhelming the market with land. The ministry today announced its third mass marketing of land, this time offering lots zoned for 6,533 apartments, including 2,247 apartments in Arab communities. The Israel Land Administration (ILA) will market land in 54 communities nationwide, including 20 Arab, Druze, Circasssian, and Bedouin towns.

The tenders are the last ones published this year in a bid to lower land prices by boosting the supply.

The minorities towns included in the latest ILA marketing campaign include Umm al-Fahm, the Druze town of Hurfeish, and the Bedouin town of Zarzir. Jewish towns in the campaign include Yehud (land for 780 apartments), Jerusalem (land for 692 apartments), Yavne (land for 466 apartments), Ashkelon (land for 395 apartments), Meitar (land for 370 apartments), Beersheva (land for 199 apartments), Haifa (land for 125 apartments), and Netanya (land for 121 apartments).

The ILA published tenders for land zoned for 13,365 apartments in 2007, and tenders for land zoned for 17,621 apartments in 2008. It published tenders for land zoned for 13,940 apartments through November 2009, including the tenders as part of Atias's campaign. Today's tenders boost the 2009 figure to over 20,000 apartments, 16% more than in 2008.

Published by Globes [online], Israel business news - www.globes-online.com - on December 27, 2009

© Copyright of Globes Publisher Itonut (1983) Ltd. 2009

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