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Contractors: Prices of new flats won't go up
BDO Ziv Haft public accountants' firm presents data showing coming months will be characterized by stability or very slight increases in prices of new apartments
Ofer Petersburg
The Association of Contractors and Builders in Israel
believes the prices of new apartments will not go up in the coming months. About two weeks ago, the Bank of Israel also estimated that the price hikes in real estate will be curbed in 2010.
The Contractors Association's estimate is based on data received from the BDO Ziv Haft public accountants' firm. According to the company, "The sharp rises in the prices of new apartments are behind us, and in the coming months we expect stability or very slight increases."
The company added in its analysis that "the sharp price rises this year took place in the second quarter, alongside a sharp rise in demands and a drop in building starts. The third quarter recorded a slight moderation in the demands, alongside an increase in building starts. Contractors have managed to finance the launching of new projects and push forward stages of new projects."
Housing Minister Ariel Atias announced Wednesday that he would reduce real estate prices by flooding the market with 6,000 new housing units in central Israel.
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