Israel: Real Estate deals another casualty of war in the North

Israel: Real Estate deals another casualty of war in the North

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“According to real estate agents in the Galilee, even stiff cancelation fees, ranging from NIS 10,000 to NIS 200,000, depending on the stage in which the deal was killed, have not kept some potential buyers from deciding against a move to the North”

“One person in the industry charged that instead of working to encourage settlement in the Galilee, the government is working against that goal, citing the decision to suspend laying a rail line from Haifa to Carmiel: “Instead of helping these communities, the government is only hurting them. We believe in the Galilee but without state aid, people will leave,” he said.

Real Estate deals another casualty of war in the North
23.8.06 | 10:24 By Anat Georgi

The safe, pastoral image of the Galilee was another casualty of he war in the North, as demonstrated by the dozens of people who canceled contracts to purchase homes in the region.

According to real estate agents in the Galilee, even stiff cancelation fees, ranging from NIS 10,000 to NIS 200,000, depending on the stage in which the deal was killed, have not kept some potential buyers from deciding against a move to the North

Industry sources say that only massive government intervention in the form of advertising campaigns and cash rebates can bring buyers back to construction sites and sales offices.

One person in the industry charged that instead of working to encourage settlement in the Galilee, the government is working against that goal, citing the decision to suspend laying a rail line from Haifa to Carmiel: “Instead of helping these communities, the government is only hurting them. We believe in the Galilee but without state aid, people will leave,” he said.

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