Cabinet Approves Target Price Plan; Marketing to Begin Immediately at a 20%
Discount off the Market Price
(Communicated by the Prime Minister's Media Adviser)

The Cabinet, at its weekly meeting today (Sunday, 21 December 2014),
approved the target price plan for the housing market; marketing will begin
immediately at a 20% discount off the market price. The target price plan is
open to all citizens and its goal is to bring about a lowering of prices in
in-demand areas and from there to all areas.

The plan is the product of a joint effort by the Construction Ministry, the
Israel Lands Authority, the National Economic Council in the Prime
Minister's Office, Prime Minister's Office Director General Harel Locker and
the Finance Ministry. It was decided that preference would be given to those
without housing who will receive three votes in the lottery as opposed to
those who wish to improve their housing who will receive one vote.

Target price tenders will include housing units the price of which is under
NIS 19,000 per square meter in order to prevent the benefit from being given
to luxury units.

Already in 2014, approximately 4,000 housing units in Rosh Ha'ayin and
Modi'in will be in a target price format. In 2015, over 12,000 additional
units in in-demand areas will be included in the plan.
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