Israel must change its approach to housing new immigrants in order to attract and retain them, as the desire to immigrate to Israel is increasing among Jews in the Diaspora. The arrival of new immigrants, especially those with financial resources, can provide significant economic benefits for Israel, injecting funds into the economy and boosting overall economic activity. An economic study found that investing in the absorption of immigrants from France yields a return of about 1,400% in GDP terms and 274% in state budget terms. However, many potential immigrants are currently in the 'consideration phase' and one of their primary concerns is housing. The writer suggests granting a full exemption from purchase tax for a first residential property, without a price cap, to incentivize potential immigrants to move to Israel.
image sourced from original article at https://www.jpost.com/opinion/article-840217
Original article source: https://www.jpost.com/opinion/article-840217
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