New housing regulation allows dividing apartments

November 6, 2011 17:00

Interior Minister Eli Yishai (Shas) authorized new regulations on Sunday to allow buildings to divide large apartments into separate living units, Army Radio reported.

The Interior Ministry hopes the move will bring down apartment prices by quickly increasing the supply on the market.

With the consent of three-quarters of a building's residents, up to 30 percent of apartments over 30 square meters may be divided.

The regulation is expected to provide options to over 50% of apartments with two or more residents in major cities.

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