New Housing Approved for Jerusalem (INN) ISRAEL NATIONAL NEWS) By Chana Ya´ar 04/02/12)
INN} ISRAEL NATIONAL NEWS
INN} ISRAEL NATIONAL NEWS Articles-Index-Top
Hundreds of new housing units have been approved for the Malha
neighborhood in Jerusalem, near Gilo. The new project will be built
in the western and southern parts of the neighborhood.
An Interior Ministry committee tendered its approval to the
construction of the new units on Monday.
Last month the Cabinet approved the housing section of the
Trajtenberg Commission Report which included steps to increase the
supply of residential units while housing reducing prices.
Under the recommendations, approximately 187,000 new apartments are
to be marketed throughout the country over the next five years, with
60 percent slated for high-demand areas around Jerusalem and Tel Aviv.
The Malha neighborhood project is slated to provide only 400 new
The capital was sharply affected by the spike in housing prices
between 2008 and 2011. Nevertheless, demand for housing in the city
has continued to remain high.
The price of new apartments dropped two percent this past January
compared to December 2011. They were 11 percent lower than the peak
price of new apartments in June 2011. (IsraelNationalNews © 2012
Return to Top
MATERIAL REPRODUCED FOR EDUCATIONAL PURPOSES ONLY