Prime Minister Binyamin Netanyahu on Sunday reassured those protesting against the country's soaring housing prices that as early as this week a series of measures will be taken to reduce housing costs.
"The government has a monopoly over 90 percent of land which is unavailable and the bureaucracy in Israel is cumbersome. It can take over five years to approve construction of a house. We need to simplify the process and sell land to Israeli citizens. This week we will work toward completing these steps," Netanyahu said at the start of the weekly cabinet meeting.
He added that today there were over 45,000 new building projects, which is almost 50% more than the average in the last decade, but that's not enough. This week we will pass reforms of the Israel Land Authority and of the national housing committees."