Israel Sets an All Time Record for Houses on the Market
Lesson Brief
Globes
On January 4, Globes reported that the Minister of Construction and Housing Uri Ariel announced that approximately 50,000 housing units came on the market in Israel in 2014, marking an all time high. 60% of the year's total land sales were in the central region of Israel. Ariel noted that the Ministry aimed to increase apartment availability for Israelis, criticizing a previously failed plan proposed by former Finance Minister Yair Lapid. Although the Ministry of Construction is boasting success, land marketing is only the first part of longer process for further residential construction.