BREAKING NEWS

Sources: Trajtenberg C'tee to recommend smaller homes

By MOSHE LICHTMAN, ADRIAN FILUT/GLOBES

SEPTEMBER 26, 2011 12:16

The Trajtenberg Committee for socioeconomic change is due to submit its final recommendations to Prime Minister Binyamin Netanyahu tomorrow. Sources inform Globes that its real estate recommendations will have six points: long-term rental housing; promote the construction of 165,000 apartments on available land; ease terms of developers in land tenders; encourage the construction of small apartments; levy fines for unoccupied apartments; and NIS 30 million for vacate and build projects.

The Trajtenberg Committee believes that corporations and investment institutions are the source of financing real estate projects. It advises amending the Law for the Encourage of Capital Investments to cover the construction of rental housing by subsidizing land and providing tax breaks. It advises amending the Planning and Building Law to zone residential land solely for rental apartments. It also advises regulations for long-term leases of 3-5 years, including terms for evicting deadbeats. It expects developers to make a return of 7% on these projects.

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