Attorney Micha Gaderon, the outgoing chairman of the Central District Planning and Building Committee, notes that the current slump in the housing market is due to psychological considerations of buyers, who are waiting for further price reductions. He emphasizes that buyers are afraid of falling prices and therefore refrain from purchasing apartments, and the central question is who will blink first — the buyers or the developers. Gaderon, who stepped down after four years in office, talks about the changes he led in planning processes aimed at streamlining procedures and approving plans more quickly. He notes the need to continue planning and approving projects, despite the current supply, as the market still requires additional housing units. Gaderon also addresses the relationship between developers and authorities, emphasizing the importance of the objections institution in the planning process, but warns against unrealistic expectations from opponents. Ultimately, he believes the market will rebound, with an increase in demand for apartments.
All buyers are currently sitting at home and deciding to wait because they think apartment prices will drop
Source Globes
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