The Israel Land Authority (formerly the Israel Land Administration) today reported that it published tenders for land for 24,123 homes nationwide in 2012, but that transactions were approved for just 15,293 homes, down 40% from the transactions approved for over 25,000 homes in 2011.
However, a close examination of the data reveals an even worse picture about regular Israel Land Authority tenders, compared with land sold without tenders. In 2012, the Israel Land Authority approved tenders won by contractors and buyers groups for 9,154 homes, 50% few than the tenders for 18,277 homes approved in 2011.
At time when there is a shortage of 100,000 apartments nationwide to meet demand caused by population growth, the data again demonstrate the Israel Land Authority's inability to solve the supply problem.
Published by Globes [online], Israel business news - www.globes-online.com - on August 12, 2013
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