Analysis of CBS data reveals that in the second quarter of the year, there was a sharp decline of approximately 11% in construction starts under TAMA 38 in the demolition and construction track. The largest decline was in the Haifa area. Among the reasons: the decline in demand for apartments and the Bank of Israel's moves to limit financing operations, which are causing developers to wait before implementing their projects.
Hundreds of thousands of unprotected apartments and buildings that will not withstand earthquakes are scattered throughout Israel. Although urban renewal has picked up speed in recent years, even today there are quite a few buildings that have not yet started the process for various reasons. Want to get started? Don't do it without reading the following advice. Because for a project to be successful, it is important to start it right.
An examination based on CBS data reveals that the share of urban renewal in construction starts fell from 26% to 22.2% within a year. In the Southern District, the drop is particularly sharp, with a decrease of 65%. The industry warns: Without government intervention, the pace of protection will continue to slow.
While construction starts in urban renewal have declined slightly nationwide, in Jerusalem the numbers continue to rise. How significant is the trend in the capital, why is the sector booming in Jerusalem, and what complexity are these projects creating for the old neighborhoods?
Real Estate Center: Despite a sharp increase of approximately 15% in all construction starts, specifically in the field of urban renewal in the demolition and reconstruction tracks, a decrease of 1.7% was recorded, along with a reduction in the sector's share to 22% of all construction starts. This is according to an examination by the Urban Development and Renewal Company. The company's CEO: "The war proves that the Urban Development and Renewal Company saves lives - painful data"
