"The Israelis like their houses. More than 72% of the Israelis own their apartments, being one of the highest rates in the world. In order to compare, the ownership rate over apartments in the U.S. is up to 68%, in Britain 69% and in France 54%. Every year, Israeli contractors invest about 36 billion N.I.S into construction, approximately two thirds go into the domesticating market
The recent Israeli elections were followed by a number of pronouncements by US officials praising democracy in Israel. However democracy is much more than elections, and many freedoms that Americans take for granted are not available in Israel.
ACBI president Aharon Cohen: Taxes in Israel account for 41% of the price for a new apartment. A study by BDO Ziv Haft for the Association of Contractors and Builders in Israel (ACBI) found that an Israeli wage-earner has to work 9.3 years (112 months of full-time work) to buy an average apartment.
The IDF will vacate the so-called “small block” in the north Tel Aviv neighborhood of Tel Baruch in 2007, making the land available for the construction of thousands of housing units.
