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Israel comptroller issues report on rising housing prices

February 25, 2015

JERUSALEM (AP) — Israel’s state comptroller has issued a report on the rapid rise in housing prices, another blow to Prime Minister Benjamin Netanyahu just weeks before next month’s national election.

Wednesday’s report says the cost of buying a house rose by over 50 percent in recent years.

For many Israelis the high cost of living, not security, is the primary issue in the March 17 election.

Buying an apartment is out of reach for most young Israelis and rents also have risen significantly in major cities.

In 2011, hundreds of thousands of people took to the streets across Israel in protest over the spiraling housing costs and other social issues.

Netanyahu’s Likud party issued a statement saying the report will be studied and that it will work to resolve the crisis.