Kahlon Prepares for New Round of Apartment Lotteries

After the success of his last lottery, Finance Minister Moshe Kahlon plans on doing it all over again. Come September, another 15,000 homes will be available for eligible purchasers in the Price Resident Program lottery.

“So far, as a result of the last lottery, 12,000 young couples have received keys to their new homes, which they will be able to move into in the coming months,” said Kahlon. “Thousands of other apartments are under construction, and many others are in the approval process. It takes time, but it is happening. Prices have gone down as a result of the program.”

Some 45,000 people signed up for the lottery which took place in June. Applicants were vying for the opportunity to buy one of 15,000 new apartments that will be offered to applicants to the Price Resident Program, which provides discounted housing prices for eligible young families, with home prices 30 percent under market value. The lottery offered thousands of apartments in in-demand areas, including Rishon LeTzion, Rosh Ha’ayin, Herzliya, Beit Shemesh, and many more in central and northern Israel, as well as in Be’er Sheva and Ofakim in southern Israel.

The new lottery will open on September 15, said Kahlon, with apartments offered in Be’er Sheva, Rishon LeTzion, Modiin, Netanya, Shoham, Beit Dagan, Ramat Gan, Or Yehudah and Ashkelon. Apartments in the Arab sector will be offered in Nazareth, Sakhnin and Kafr Manda. “By the end of the year, we expect 45,000 young couples to have won the right to purchase an apartment. For those who did not receive an apartment in the first round of lotteries, I promise that we have not forgotten you. Do not give up; we will reach you as well.”