Attias: BoI decision won't affect first-time home buyer

October 26, 2010 12:04

The Bank of Israel's decision to tighten lending standards for mortgages above NIS 800,000 will not affect young couples purchasing their first homes, Construction and Housing Minister Ariel Attias (Shas) stated during an interview Army Radio on Tuesday.

During his interview, Attias declared that the major challenge towards relieving the shortage of affordable housing in Israel is the zoning of more state land for development. He added that Israel is one of the only countries in the world where the government owns the majority of available land, "except perhaps, I don't know, maybe China."

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