Buyer fixed price project doubles to 30,000 homes

Finance Minister Kahlon, photo: Tamar Matsafi
Finance Minister Kahlon, photo: Tamar Matsafi

The lottery results for the project's first 15,000 Israeli homes for first time buyers will be announced Tuesday. 

The results of the buyer fixed price lotteries will be brought forward , and the winners will begin receiving notification tomorrow, Minister of Finance Moshe Kahlon announced today on a live Facebook broadcast aimed at young couples eligible for the program.

The big lottery, for which registration was closed several weeks ago includes 15,000 discount housing units in 24 communities around Israel in the framework of the buyer fixed price plan. Kahlon also announced that the next lottery, also for 15,000 housing units, would be published in mid-September.

Kahlon's announcement comes 24 hours after the High Court of Justice struck down the law imposing a tax on a third housing unit. It cannot be ruled out that the Facebook broadcast was designed to ease disappointment about the law's cancelation, and to continue the momentum among the public in recent months, which caused a drop in residential real estate deals, among other things.

One of the effects of the lottery published and the one to be published next month is a psychological one on those eligible for the buyer fixed price plan. The Ministry of Finance's aim is to signal to non-homeowners that it is worthwhile for them to wait for the lotteries, instead of buying a home on the free market.

"We will neither break nor give in; we will only become stronger. The past 24 hours have only confirmed to me that we are justified. We will not give in to people with selfish interests," Kahlon said at the beginning of the broadcast, referring to the court ruling.

"Up until now, 12,000 young couples have won homes," Kahlon continued. "In October-November, people will get keys to their apartments. Many thousands are now in construction. Cranes are building, and the permit is in the approval processes. It takes time, but it is happening. In real terms, the prices have fallen. We do not want you to pay excessive prices for housing. Do not listen to people with interests trying to persuade you."

"We have brought forth the lottery results. It was supposed to be a week from now, but the results will start coming from tomorrow. 15,000 people will be notified that they have won. Check your SMS messages. I want to congratulate the winners. We'll reach 27,000 winners, the same number of homes in all of Herzliya, to give you an idea."

Kahlon also announced that the next big lottery was on the way. "By September 15, we will begin another lottery, with 15,000 more homes. The next giant lottery will be no less attractive. The communities to be included in this lottery will be Beer Sheva, Rishon Lezion, Modi'in, Netanya, Shoham, Beit Dagan, Ramat Gan, Or Yehuda, and Ashkelon. There will also be lotteries in the Arab sector in Nazareth and Kafr Manda. By the end of the year, we expect 45,000 young couples to get an apartment, and we are making every effort to bring the next series into the picture. All of the first series, however, will get apartments, as we promised. To those eligible for the second series, I say: Don't despair. We are on our way to you."

Published by Globes [online], Israel Business News - www.globes-online.com - on August 7, 2017

© Copyright of Globes Publisher Itonut (1983) Ltd. 2017

Finance Minister Kahlon, photo: Tamar Matsafi
Finance Minister Kahlon, photo: Tamar Matsafi
Twitter Facebook Linkedin RSS Newsletters גלובס Israel Business Conference 2018