Steinitz, Attias announce new steps to lower housing prices

December 16, 2010 11:27

Finance Minister Yuval Steinitz and Housing Minister Ariel Attias held a press conference morning where they announced additional steps to lower housing prices.

Among the steps mentioned by the ministers were raising the tax rate on apartment purchased over the course of the next two years. Also, rental apartment investors who sell their apartment during the same period will receive a exemption on capital gain taxes on the sale, without having to wait for the previously required four years of ownership.According to the Consumer Price Index published Wednesday, apartment prices rose by 0.4 percent in recent weeks. The figures also released that apartment prices jumped 18% in the past year compared to the corresponding figure in 2009.

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