BREAKING NEWS

MK presents mortgage assistance program for young couples

By JPOST.COM STAFF

DECEMBER 14, 2010 20:41

Deputy Prime Minister and Minister for Negev and Galilee Development on Tuesday presented a mortgage assistance program for young couples who want to move to the periphery, according to a statement.

The plan which will be submitted to the government in the near term offers support for young couples who purchase their first apartment in the periphery, and live their for 5 years.

"Providing assistance to those interested in purchasing an apartment in the periphery would give a significant advantage to the periphery as a choice of residence and will encourage young couples to move to the Negev or Galilee," Shalom said.

Support of NIS1000 is about 25 percent of the average mortgage in periphery cities. "Young people are the future of periphery communities. These communities suffer from negative migration, the young generation leaves these cities and no new residents arrive in them. Hence the move of young couples to the periphery pumps new blood into these communities and strengthens the existing population."

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