The start of construction in Israel has reached a 30-year high

Between April 2021 and March 2022, 68,970 operations began in Israel, according to the Central Bureau of Statistics, an increase of 63,274 in 2021 and the highest figure since 1995. Despite this very high figure, the start of construction is still below the annual target of 70,000.

Between April 2021 and March 2022, 79,060 building permits were issued and there were a total of 159,900 new homes under construction – an all-time record. In 2021, 76,340 permits for the construction of new homes were issued and 150,895 homes are under construction.

Between April 2021 and March 2022, 16.9% of the started apartments or 16.9% of the total number were for housing as part of government subsidized programs, compared to 12,760 (20.2%) in 2021. Only 3% of the new building started during this period were apartments for rent.

33% of the new buildings, which start between April 2021 and March 2022, were in seven cities: Tel Aviv-Jaffa, Ashkelon, Jerusalem, Bat Yam, Rishon Lecion, Beit Shemesh and Netanya. Tel Aviv-Jaffa leads with 4,982 construction starts, followed by 3,679 in Ashkelon. The number of constructions in Bat Yam during this period jumped by 785.8% to 3127.

Posted by Globes, Israel Business News – – on June 20, 2022.

© Copyright by Globes Publisher Itonut (1983) Ltd., 2022.

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