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Reported

News Brief

  11/16/2007, Kislev 6, 5768

Report: Hareidi Community to Need 260,000 Apartments


According to recent research conducted by Naot HaPisga Modiin Ltd. and reported in Nfc, the hareidi-religious community in Israel will need approximately 260,000 additional apartments between now and 2025.  Hareidi-religious Jews are expected to buy 160,000 second hand apartments and 99,000 new apartments. 

The need for apartments is expected to increase dramatically over the next decade due to the large family size in the hareidi community, where couples have an average of 7.7 children.  Researchers expressed concern over the supply of apartments.  Only 20,000 new apartments are currently available in hareidi-religious areas, they said, and another 20,000 may be built in the future.  The community will need more housing than will be available, they said, and the difference between supply and demand could cause housing costs to rise sharply over the next several years.