The War Consequences on the Immigration Trend to Israel and Its Effect on the Real Estate Market

Tel Aviv University Alumni Organization, headed by Sigalit Ben Hayoun, held a panel for the university's alumni community as part of its series of webinars during the war on the topic of the war consequences on the immigration trend to Israel and its effect on Israel's economy and real estate market. 

The panelists:

• Adv. Avichai Kahana - Director General of the Ministry of Aliyah and Integration, and an alumnus of Tel Aviv University Social Sciences Faculty.

• Raul Sargo - President of the Boni Ha’aretz Contractors Association, and an alumnus of Tel Aviv University Faculty of Management.

• Shay Felber - Deputy Director of the Immigration and Integration Unit at the Jewish Agency, and an alumnus of Tel Aviv University Social Sciences Faculty.

The panel moderator:

• Prof. Karin Amit - Dean of the Economics and Business Administration Faculty at Ruppin Academic Center, and alumna of both the School of Education and the Faculty of Social Sciences at Tel Aviv University.

Avichai Kahana noted that:

"The aliyah (A Hebrew word that means "ascent" or "going up". To "maks aliyah" means to immigrate to Israel and people who make aliyah are olim) data and the opening of requests all over the world represent an opportunity for the state of Israel to grow after the war. The possibility of purchasing a house in Israel is one of the most important challenges of the aliyah.

 

"The Ministry of Aliyah and Integration works to offer new and up-to-date solutions for the integration of olim, particularly in the field of housing."

Raul Sargo stated that:

"The construction and infrastructure industry is in a deep crisis that worsened during the war and is causing stagnation and a decrease in the beginning of new construction projects. Against the background of natural growth and the large Aliyah expected in the coming year due to antisemitism around the world, which will increase the demand for homes, the Israeli government must find an answer to the greatest housing challenge in its history and prepare an immediate plan that aims to increase the supply of apartments to 100,000 per year, by immediately bringing in tens of thousands of foreign workers, reducing taxes such as purchase taxes on land and apartments for investment, reducing VAT (value-added tax) on construction, releasing land to contractors at minimum prices and committing to purchase apartments that contractors will not sell. These steps, in the short term, will cause housing prices to stabilize and even decrease. At the same time, the country must find long-term solutions, because its population will double in the next generation, by building 2 new metropolises in the north and the south."

Shay Felber said that:

"Israel is our home, and right now thousands of olim want to immigrate to Israel and our job is to help them in this—to immigrate and succeed"

Prof. Karin Amit explained that:

"The immigration to Israel over the years has led to economic growth. It is important to prepare for optimal integration of the olim following the war, with an emphasis on the labor and housing market."

 

"During times of war, social cohesion increases, this is manifested in an increasing interest in immigration to Israel along with a decreased interest in immigration from Israel (relocation)".

Tel Aviv University Alumni Organization - A World-Changing Community