The Knesset plenum has approved, in its first reading, the increase in the purchase tax on a second apartment. 20 MKS voted for and 3 against. The proposal has been sent to the relevant committee.
In this bill, it is proposed to amend the Real Estate Tax Law to tax second residences more heavily in order to discourage individuals from buying up homes to rent out. It is hoped that this will lower the cost of housing by putting more homes back on the market.