Iron price rise: Planning to buy a new apartment? Get ready to pay more – real estate

World iron prices have jumped by 30% in recent months, as has the construction input index – the index that combines the increases required to build an apartment has risen by 1.1% in the last two months, in 2020 as a whole the index rose by 0.5%. These results may directly affect people who purchased an apartment that is in the construction phase, since the prices of apartments in most sales contracts are linked to the construction input index; This means an increase of 1.1% in the prices of new apartments that have not yet been paid for.

Roni Mizrahi, President of the Contractors’ Chamber responds: “This morning’s publications on the rise in world iron prices by 35% and the rise in construction inputs, Darshani says in light of the steep decline in dollar and foreign currency exchange rates against the shekel, which was supposed to lower iron prices and other imported inputs. As well as other levies, the new Israeli government must choose to appoint a professional and impartial housing minister who will put the housing market in order, including Rami’s speculation in land prices and increasing contractors’ rights by 30% in the demand area, with 20 percent marketed to eligible at discounted prices and another 10 percent “For a long-term subsidized lease, in order to increase the supply in the market and stabilize the price levels”