Minister of Construction and Housing Zeev Elkin today (Wednesday) responded on behalf of the government to the bill of MKs Alex Kushnir and Bezalel Smutrich, who sought to amend the Sale Law, so that it would not be linked to the construction input index. In his remarks, Elkin claimed that “I hear complaints and threats from contractors, that the amendment will lead to a rise in prices. It does not seem, it is clear to all of us that with or without a law, they will raise apartment prices as long as they can.”
The Minister opened his remarks by saying: “Since I entered the Ministry of Construction and Housing, we have been working on amendments to the Sale Law. “To promote this issue even before we change the whole package, I thought it was right. The beginning of advancing legislation is important and this is to let the committee advance the law and bring ideas to implementation and then add it to the overall government bill.”
“I would like to point out that the fact that the amendment comes from the coalition and the opposition is excellent because we have made some more pressure attempts to prevent the law from being promoted, but together, it will be easier. And secondly, to wait with the continuation of the legislation until the submission of the amendments to the comprehensive government sales law, which will be joined by the amendment of the index inputs of Knesset members Kushnir and Smutritz, “Elkin concluded.
Knesset members Kushnir and Smutritz agreed to Minister Elkin’s terms and the law was passed unanimously. After the law was passed in a preliminary reading, MK Vladimir Blyak, who also took part in submitting the law, tweeted that “the amendment is expected to lower the prices of new apartments by at least 3% -2% immediately. We will do our best to approve the proposal in future readings soon.”
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Dealing with the housing crisis.
MK’s Sale (Dwellings) Bill @_kushnir_alexMK @bezalelsm And mine, which limits the linkage of the price of an apartment to the construction input index, has now been approved by the plenum in a preliminary reading. This amendment is expected to lower the prices of new apartments by at least 2-3% immediately. We will do our best to confirm the offer in the following readings soon.– MK Vladimir Beliak Vladimir Beliak (@VladimirBeliak) February 16, 2022