Lapid presents plan for low-cost, long-term rent apartments

June 12, 2012 19:23
1 minute read.


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Yesh Atid leader Yair Lapid presented his party’s housing program Tuesday, pledging to build 150,000 apartments in 10 cities to be made available for long-term rent at two-thirds of today’s prices.

“Right now, if you are a young person who served in the army, studied at university and has just entered the work force...then I have bad news for you,” Lapid said at the Federation of Israeli Chambers of Commerce’s Economix conference in Tel Aviv. “Unless you have a rich uncle to bequeath you a lot of money, then you won’t have an apartment...and if we don’t change the rules of the game, then you can forget about it altogether.”

The average young professional has barely begun to start working before he becomes “a slave,” Lapid said, pointing out that Israelis must spend 138 average monthly wages to purchase an apartment in present conditions, whereas the average English person spends 71 wages on an apartment and the average Swede spends just 30.

Under his plan, residential towers will be constructed on hundreds of hectares held by the Israel Lands Administration in the following cities: Tel Aviv, Jerusalem, Haifa, Beersheba, Holon, Kfar Saba, Safed, Netanya, Ashdod and Ashkelon. The ILA will remain in control of the land, just as it controls the land on which Road 6 (Trans-Israel Highway) is located.

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