Prime Minister Benjamin Netanyahu has directed that the ceiling on discounts on plots in national priority areas in the Negev and Galilee be raised, and that a series of discounts on purchasing land be advanced for IDF veterans. The implementation of the decision is taking effect and those currently purchasing land will be able to benefit from the most significant accomplishment in over a decade.
For example, a plot that was valued at NIS 700,000 will, after the maximum discount, cost NIS only 72,800 – a discount rate of 91%.
“Settling the Negev and the Galilee is the eternal answer of the people of Israel. We have advanced and brought unprecedented discounts on land in the Negev and the Galilee and we do not intend to stop. Discounts on land development will be expanded soon. The Government will massively invest in changes that will lead to the prosperity of the Negev and the Galilee and they will be more attractive for young people, many families and IDF veterans in these areas,” Netanyahu said [translated].
The direct intervention of Prime Minister Netanyahu was necessary in order to advance a series of decisions. He directed PMO Director General Shelley to establish and chair a committee of directors general that evaluated the existing discounts and significantly enhanced them. Construction and Housing Minister Goldknopf also worked to advance the passage of the decision with the Israel Land Authority.
A series of decisions are also be implemented to increase the discount ceiling and expand the conditions for receiving a discount:
1. Increasing discounts in national priority areas from NIS 450,000 to NIS 900,000 for those without housing and to NIS 500,000 for those seeking to upgrade their housing. (Click here for details)
2. Reducing the repayment rate for those without housing from 31% in ‘A’ priority areas to 26% and from 51% in ‘B’ priority areas up to a ceiling of NIS 900,000.
3. Significantly expanding the definition of an active-duty reservist: Instead of 80 days of active duty over six years and a minimum of six years of reserve duty, a track has been added for reservists who have served over 45 days since the outbreak of the Swords of Iron war.
4. Increasing discounts for active duty reservists by an additional 10% reduction according to the ceiling (those without housing – up to NIS 90,000; those seeking to upgrade their housing – up to NIS 50,000). This is in addition to existing discounts.
