Housing Ministry issues country-wide tender for 2,800 new homes
Posted on 07. Apr, 2010 by Buy-It In Israel Staff in Israel Real Estate
New Apartments in Israel
The Israeli government is launching a country-wide land tender for the purpose of the construction of 2,800 housing units across the country in an effort to bring down Israel real estate prices.
The Israeli Housing and Construction Ministry together with the Israel Land Administration announced a country-wide tender to free up land for the construction of thousands of apartments in demand areas in 21 cities and towns across the country to deal with the shortage of available housing for young couples.
“The shortage in supply of housing has spanned a period of some 10 years, but there is a massive effort in recent months to increase the supply of available housing,” said Israel’s Housing and Construction Minister Ariel Atias. “There is still a lot of work to be done to remove the bureaucratic obstacles for the approval of projects so that they can be put on the Israeli market. As we increase the supply of housing, this will balance out the demand and lead to a drop in prices thereafter.”
The ministry is issuing tenders for the construction of 1,726 apartments in high demand areas including 540 housing units in Rishon Letzion, 87 units in Rosh Ha’ayin, 48 units in Elad, 780 units in Yehud, and 30 units in the Arab town of Kfar Kassem. In Beit Shemesh, 47 housing units will be marketed in the Anglo-populated Migdal Hamayim neighborhood and another 36 units in the mostly Orthodox Ramat Beit Shemesh area. Another 140 apartment units will be marketed in the southern city of Kiryat Malachi and 23 units in the communal settlement of Bat Hadar both located close to Ashkelon.
In the south of the country, a total of 550 housing units will be allocated including 285 units in city of Beer Sheva out of which 194 units will be allocated in the Ramot neighborhood.
In the city of Ofakim, two projects will be marketed for the construction of 76 apartment units and 70 units and in Eilat 100 units are planned for construction.
In the north of the country, a tender for a total of 344 housing units will be issued including 40 units in Abu Sinan in the Galilee region, 18 units in Maalot Tarshiha east of Nahariya, 12 units in Nazareth, and 123 units in the town of Hatzor HaGlilit located near Safed. In the area of Haifa, a tender for the construction of 169 apartment units will be launched, including 94 units in Kiryat Motzkin.
Over the past half year from September last year, the government has issued land tender for the construction of 18,606 apartments.
“There are winners for almost all of the tenders issued over the past six months, which proves that we are on the right track, which is not easy or short,” said Atias. “Nonetheless, we have the determination to continue and increase the supply of available housing despite the difficulties, which in turn will lead to a drop in prices.”
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