Israel Reopens Discount Housing Lottery to Existing Homeowners
Translated & summarized from Mignews by baba
Israel has reopened its "Discount Housing" program to existing homeowners seeking to upgrade their residences. The lottery, which offers properties at below-market rates, is now accepting applications for 102 apartments in cities like Beit She'an and Dimona. Successful bidders must sell their current homes within a year and may receive grants of up to 60,000 shekels.
The story in 5 lines · by baba
- Israel's "Discount Housing" lottery is now accessible to existing property owners.
- The program offers 102 apartments in Beit She'an, Dimona, Haifa, and Harish.
- Apartment prices range from approximately 488,000 to 1.89 million shekels.
- Winners must sell their current homes within 12 months of moving.
- Grants of up to 60,000 shekels are available for some buyers.
The Israeli government has reinstated access to the "Discount Housing" state lottery program for citizens who already own property and wish to upgrade their living situation. This policy, which had been suspended for approximately three years, now allows individuals who previously lost their 'housing-insecure' status to purchase homes at significantly reduced prices. The decision is expected to benefit thousands of local families.
Participants in the lottery are required to commit to selling their existing property within twelve months of moving into their new home. The majority of available properties are located in peripheral Israeli cities. The current round features 102 apartments distributed across Beit She'an, Dimona, Haifa, and Harish.
Prices per square meter range from 4,090 to 12,400 shekels before VAT and discounts. Specific examples include a three-room apartment in Beit She'an costing around 488,000 shekels, and a similar unit in Dimona priced at 581,000 shekels. In Haifa, a three-room apartment is valued at 842,000 shekels. Harish offers larger units, with five-room apartments at 1.634 million shekels and six-room apartments at 1.894 million shekels.
Direct financial assistance is also provided. Winners in Beit She'an will receive a 60,000 shekel grant, while those purchasing in Dimona will get 40,000 shekels. Applications are being accepted via the official online portal for ten days. Prospective participants had to obtain preliminary certificates from authorized companies, including Alonim, Milgam, or Ma'of.
