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“Shortening Processes in the Real Estate Industry is Significant for its Advancement”

Dunn & Bradstreet held the annual Duns 100 forum of senior real estate law executives. On the agenda: What steps should the state take to respond to the growing precision crisis? Should the state create a special loan mechanism for entrepreneurs and contractors to help them succeed in the current period and how Is the trend in the real estate market towards new immigrants or foreign residents noticeable?

Attorney Yoav Zahavi, partner in the real estate and urban renewal department at the Epstein Rosenblum Maoz firm (ERM): “The gap between the supply of apartments in Israel and the demand is unfathomable. On the one hand, there is a lack of tens of thousands of housing units, and with the rate of births compared to the rate of construction, the gap is only growing And worse and it is clear to anyone who can understand that this is also the main obstacle to lowering housing prices. In Jerusalem, for example, they announced years ago that ‘planning leads’, which means that when a plot of land can support a high volume of construction, lawsuits of suitable scope are approved for it, even if “forbidden” the developers and the existing owners profit from it . Other municipalities see things differently. Allows entrepreneurs to build on a scale that will allow minimal profitability and maybe a little more. As they say in the municipality of Reg – every additional tenant costs us money. I suggest that the authorities take as an example the engine of construction in Israel – urban renewal. Establish a mechanism that allows the collection of an improvement levy for the rights that exceed the minimum profit according to standard 21. This will encourage the municipalities to grant rights to the maximum extent and the entrepreneurs to build more. Everyone benefits from this.”

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