Archive: 2/23/2014
Daily Israel Report
More

Zion's Corner Blogs

14:24
Reported

News Brief

  2/23/2014, Adar 23, 5774

Housing Minister: Prices will Start Dropping in 2015


Housing Minister Uri Ariel said, Sunday, that government figures showing a 4.6-percent increase in housing prices in 2013 "reflect a trend which we are working hard to stop and reverse." He added, I have acted over the past year to increase the marketing efforts and the supply, as well as lowering the price of land.

Ariel said that alongside those efforts, "I am currently formulating, together with the relevant bodies, a strategic plan that includes a significant concession of state revenue that will affect housing prices in significant percentages quickly. The housing market is a complicated market and I believe that the actions we have taken will begin to bear fruit soon so that we will begin to see a containment of price increases near the end of the year and the beginning of a drop during 2015."