The company that drove thousands of apartment buyers and investors crazy, leading them to make contact for details last week, reveals itself and explains: This is how you will be able to purchase an apartment in the center of Tel Aviv for only one million seven hundred thousand NIS. The RE Real Estate company from the "RE: Bonot" group reveals the formula and states: “Increasing the supply in Judea and Samaria by 24,000 housing units per year will, within five years, result in a 20% reduction in prices in the center of Tel Aviv. The time has come to move eastward.” Thousands of young couples and potential investors registered last week to receive details on the website of RE Real Estate after ads appeared in publications regarding apartments in the center of Tel Aviv, Ramat Gan and Herzliya at prices ranging from 1,700,000 to 1,850,000 NIS. It has now been revealed that behind the campaign that aroused great interest among buyers and investors is the "RE: Bonot" group, which is advocating the construction of tens of thousands of housing units in Judea and Samaria in order to increase supply over demand, thereby lowering housing prices in the center of the country and facilitating lower-cost housing prices for young couples in the center of Tel Aviv. The RE: Bonot group together with the economics commentator and lecturer, Eran Bar Tal, today present the results of the study according to which the construction of 24,000 new units per year on state lands in Judea and Samaria will reduce prices by up to 20% in the center of Tel Aviv and enable young couples to purchase an apartment in the center of the country at a reasonable price. According to Bar Tal, the number of units that are currently sold in the center of the country according to the Central Bureau of Statistics is approximately 40,000 per year, while the demand for apartments in the country’s center is approximately 49,000, resulting in an average annual price increase of 12%. According to Bar Tal, the Israeli government plans have failed to meet the objectives of population dispersal and the demand for housing in the center of the country has remained high. They have overlooked the fact that to the east there are valuable land reserves that have not been utilized. This constitutes 60% of Judea and Samaria, which, according to agreements, is under Israeli control. An increase in construction of 24,000 housing units in the central areas of Judea and Samaria will increase supply and create a surplus of 14,000 housing units (factoring population growth), which is expected to affect prices – in terms of percentages and in terms of the average price – for a four-bedroom apartment in the country’s center: Year 1 – 0% – 1.95 million NIS Year 2 – 5% – 1.85 Year 3 – 10% – 1.76 Year 4 – 15% – 1.67 Year 5 – 20% – 1.58 Expected impact on population density in Tel Aviv and its environs following the implementation of the construction plan: Year 1 – 8,250 inhabitants per square kilometer Year 2 – 7,840 Year 3 – 7,445 Year 4 – 7,073 Year 5 – 6,720 Bar Tal adds that according to the estimates of the Central Bureau of Statistics, over the last 15 years, the population of Israel has grown corresponding to the high projections, and at the end of the current decade, will approach 10 million, and 13 million in 2040. The rate of construction in Israel in recent years is sufficient for only half the rate of population growth. The most recent Israeli governments that have placed increasing the rate of construction at the top of their list of priorities have failed to reach the necessary objective; therefore, housing prices are soaring. This trend indicates that price increases are not expected to moderate unless an innovative solution to the problem is found. Bar Tal adds that not only is the increase in the construction reserve in Israel located in the center of the country, but it is in an area with an available labor and hundreds of percent growth potential for the industrial areas in eastern Israel. “The six existing industrial zones can easily be expanded by hundreds of percent: From Mishor Adumim, Ḥinanit-Shaked, Ariel, Shima (Omarim), Kiryat Arba, and Bar On (Kedumim), the expansion of the industrial areas will boost the standard of living of the Arabs of Judea and Samaria by providing them and us with hundreds of thousands of new jobs close to their homes and at the standard wage in Israel – which is hundreds of percent higher than the standard wage in the Palestinian Authority. In addition, there are plans to establish 6 new industrial zones in Judea and Samaria.”
The "Anonymous Sudan" hacker group claimed on Monday night that it managed to take down the website of the National Insurance Institute. In response, the National Insurance Institute said that this was a "fake news". The National Insurance Institute added that "they are trying to attack the site even at these moments and create unavailability/prevention of service, without success. The IT and cyber workers of the National Insurance Institute are monitoring any such action or attempt and work to continue to secure the systems."
