Ah, so it's similar to "buying a cabin in a state park" in the U.S., where you don't own the land at all, it's more of a prolonged exclusive time share, but with people's normal homes instead of vacation homes.
The craziest part (almost) no one knowsđ
In Israel, most people donât actually own the land their home sits on. Around 93% of the land is owned by the state and managed by the Israel Land Authority (ILA). When you âbuyâ a home, youâre typically leasing the land from the Israel Land Authority (ILA)âusually under long-term leases of 49 or 98 years. That means the state retains significant control over what happens to the land, including redevelopment plans, rezoning, or repossession under certain conditions.
Read the full article on my blog (and subscribe): https://efrat.blog/p/build-back-better-or-push-out-faster
Discussion
No replies yet.