Buyers in Tel Aviv will be required to pay rent for up to two years if they want to move into an apartment in the capital city.
According to The Jerusalem Report, the new rules will come into effect starting April 1.
The move is part of the city’s push to attract new and younger residents.
“The move is a step towards more affordable and more accessible apartments in Tel and Tel Aviv, said the citys mayor, Aryeh Dekel.
The new rules were part of an ongoing effort to attract residents to Tel Aviv and pave the way for more affordable housing.
Under the new guidelines, an apartment would have to be sold for up from 30,000 shekels ($3,100) to 70,000 ($5,100), depending on the size of the apartment.
The maximum amount that an apartment can be sold at is 50,000 herkels, which would equate to more than 50 square meters of space.
The maximum monthly rent would be $2,000 for a single person and $3,200 for two people.
The citys deputy mayor for planning, Yossi Dahan, told Haaretz that the new restrictions were part-funded by the Israeli Housing Authority, but the municipality could charge its own costs.
The minimum monthly rent is expected to be 50,500 herkeles ($5.50), a move that will increase the rent of apartment units in the city.
The minimum monthly monthly rent will also increase for units with a balcony, as well as for larger apartment buildings.
The city’s plan to create more affordable units will also include incentives for residents to live in lower-income neighborhoods.
In addition to the minimum monthly rents, the city will give low-income residents a discount of 30% on the purchase of a unit.
In addition to offering the new tenants a 30% discount on the price of a new unit, the building of new apartments will also attract additional foreign investors. “
This will allow us to create new and higher quality housing,” he said.
In addition to offering the new tenants a 30% discount on the price of a new unit, the building of new apartments will also attract additional foreign investors.
The Israeli government has said that it plans to invest at least 5% of the gross domestic product in the countrys housing sector.