Galant: 2018 Will Be Banner Year for Construction Sector

Jerusalem, 20 November, 2016 (TPS) -- Housing and Construction Minister Yoav Galant said Israel will need about a million new apartments over the next 20 years, with approximately 200,000 for the ultra-Orthodox sector, Israel Radio reported.

The price of housing has been a central issue facing politicians since sustained cost-of-living protests broke out in the summer of 2011. Since then, politicians have pledged to bring the cost of housing down, but prices have continued to rise.

Speaking at a conference sponsored by the ultra-Orthodox Hamodia newspaper, Galant said some 20,000 people will win the right to purchase subsidised apartments, and 40,000 next year. He also said his ministry expects to grant “many” building permits during 2017, in order to make 2018 the biggest year for construction in Israel’s history.

Those homes are expected to be occupied in 2019-2020, leading prices in the housing sector to level off.