BREAKING NEWS

Contractors: 35,000 young couples cannot afford apartments

By JPOST.COM STAFF

MAY 17, 2011 14:51

The Contractors Association on Tuesday warned that 35,000 young couples who married this year will have no chance of buying an apartment without the help of their parents and without their own capital, Army Radio reported.

According to predictions by the association, next year year housing prices will rise by more than 11 percent.

Speaking at a press conference in Tel Aviv, the Contractors Association president, Nissim Boublil said that high housing prices are profitable for the government because of tax revenues.

"The treasury does not want to hurt state revenues and is enjoying the taxes paid by young couples," he said.

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