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Building starts in Israel hit 30-year high

New housing in Ashkelon Credit: Shutterstock Yuri Dondish
New housing in Ashkelon Credit: Shutterstock Yuri Dondish
20 Jun, 2022 15:04
שלח תגובה במיילYuval Nisani

There were 68,970 building starts in Israel between April 2021 and March 2022, the Central Bureau of Statistics reports.

There were 68,970 building starts in Israel between April 2021 and March 2022, the Central Bureau of Statistics reports, up from 63,274 in 2021 and the highest figure since 1995. Despite this very high figure, building starts are still below the government's annual target of 70,000.

Between April 2021 and March 2022, 79,060 building permits were issued and overall there were 159,900 new homes under construction - an all time record. In 2021, 76,340 building permits for new homes were issued and 150,895 homes were under construction.

Between April 2021 and March 2022, 16.9% of the apartments begun or 16.9% of the total numbers, were for homes as part of government subsidized programs, up from 12,760 (20.2%) in 2021. Only 3% of the new building starts during this period were apartments for rent.

33% of the new building starts between April 2021 and March 2022 were in seven cities: Tel Aviv-Yafo, Ashkelon, Jerusalem, Bat Yam, Rishon Lezion, Beit Shemesh, and Netanya. Tel Aviv-Yafo led with 4,982 building starts followed by 3,679 in Ashkelon. The number of building starts in Bat Yam over this period jumped 785.8% to 3,127.

Published by Globes, Israel business news - en.globes.co.il - on June 20, 2022.

© Copyright of Globes Publisher Itonut (1983) Ltd., 2022.

New housing in Ashkelon Credit: Shutterstock Yuri Dondish
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