The New Path for Promoting Long Term Rent Projects

The New Path for Promoting Long Term Rent Projects

Last week the Ministerial Committee for Legislation approved a Bill submitted by Knesset Member Roy Folkman (Kulanu), which aims to authorize the Local Planning and Building Committees to approve building additions of up to 15% for residential construction projects, provided that at least a quarter of the apartments constructed are allocated for subsidized long term rent (20% below the market price, during a period of 20 years). The apartments designated for long term rent will be allocated to eligible tenants who meet certain thresholds to be determined by the Government

The New Path for Promoting Long Term Rent Projects