57,500 Couples Bought Into Price Resident Projects, Ministry Says

YERUSHALAYIM -
Construction work on new homes outside Afula. (Nati Shohat/Flash90)

Housing Ministry figures show that some 57,000 eligible couples have won the opportunity to buy a discounted apartment under the Price Resident program. The figure represents 45 percent of the 127,000 applicants who sought to win the right to purchase an apartment under the program in one of the lotteries held under the program.

In recent months, the Housing Ministry has expanded the program to allow applicants who already own apartments to apply for the program. Some 8,000 people have applied for the program, with 400 apartment owners winning the right to purchase an apartment.

Under the Price Resident program, the state provides discounts on land for contractors who commit to building a portion of the apartments in a project specifically for the program, and they are marketed at a discounted price to young couples and others who do not own homes. To qualify to purchase an apartment under the program, candidates apply and are chosen by lottery.