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Demand for homes surges after Israeli government scuttles zero-VAT proposal

Published Thu, Dec 11, 2014 · 09:50 PM
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Jerusalem

BUSINESS has suddenly picked up at Shelly Levine's Jerusalem real estate agency: The crumbling of Prime Minister Benjamin Netanyahu's government has killed a proposed tax break that had homebuyers biding their time.

Yair Lapid, the finance minister Mr Netanyahu fired last week before calling new elections on Dec 2, wanted to scrap the 18 per cent value-added tax for eligible first-time homebuyers. The prime minister has scuttled the plan.

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