Main points of PM’s ‘affordable housing’

Prime Minister Binyamin Netanyahu’s program to solve the crisis in the housing market includes the following initiatives: • Reform of Land Administration and planning committees: Removal of barriers to marketing of land and to planning of housing units.• Cheaper land for buying apartments: A 50 percent discount in price of land for construction of apartments, where contractors compete to offer lowest prices to buyers.• Reduced-cost rentals: Construction of apartments for long-term rental, with 25-100 percent discount on land for contractors that offer lowest price to renters.• Student housing: Construction of 10,000 new dormitory units for students.• Cheap public transportation for students: Immediate 50 percent rail and bus discount for university and college students, to encourage them to live outside city centers.• Municipal tax for empty apartments: Exemptions on municipal tax for empty apartments will be limited to six months.