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Housing construction stalls in Tel-Aviv
Housing construction stalls in Tel-Aviv
December 02, 2009Over January-September, the number of new home starts in Tel Aviv and its suburbs has plummeted by 44%, compared to the same period last year.
Totally, 840 residential property units have been started in Tel Aviv over this period, reported with reference to the data provided by the Central Bureau of Statistics. Experts note that the decline in construction activity is exacerbating the housing shortage and prevents the further growth of prices.
The largest number of new housing starts has been registered in Jerusalem, Petah Tikva and Netanya - 1560, 1210 and 960 respectively. That said, in comparison with January-September 2008, the growth of the indicator has amounted to 18%, 64% and 22% respectively. In Ashdod, this number has plunged by 91%, down to 660 starts.
Nationwide, this figure has decreased by 3%, down to 23.3 thousand properties. 43% of all started properties are accounted for private homes and townhouses.
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