The discount apartment program, also known as “renter’s price”, underwent a significant change in 2015 and made thousands of apartments accessible by lottery to those eligible for the Ministry of Housing at prices lower than the market. The program is mainly intended for married couples or singles over the age of 35 who do not own property, but housing improvers can also benefit from it. Every month and a half a lottery is held and the winners are announced. Each lottery includes different cities, such as Tel Aviv, Rishon Lezion and Petah Tikva in the center, and Beer Sheva, Dimona and Afula in the periphery. Participants mark their preferred cities in advance, and the chance of winning depends on supply and demand for the area.
Despite the many benefits of the program, winners may face a financial challenge, since purchasing an apartment requires high equity and additional financing through its mortgage. Yikki Abramov, the manager of the professional field at the “Mani” network, the largest mortgage consulting company in Israel, points out that proper mortgage consulting can save hundreds of thousands of shekels and allow customers to realize their apartment dream.
Abramov emphasizes the upcoming change in the program: “As of today, the certificate of eligibility for a ‘renter’s price’ or ‘discounted apartment’ is valid for one year, and the renewal was free. As of August 1, renewing the certificate of eligibility will cost NIS 50. To avoid the payment, it is recommended to renew the validity Until the end of the month. For those who won and have not been called, the renewal is not relevant. Please note that the price for issuing a certificate of eligibility has dropped from NIS 240 to NIS 200.”
