Tel Aviv, May 16 -- Urban renewal accounts for 28 per cent of the total 204,000 of all housing units approved by planning institutions in Israel, and 30% of all construction starts in the market. Every third apartment sold in 2024 - within the framework of a Pinui Binui (remove and then build) complex.

This is according to data compiled in the Government Urban Renewal Authority's 2024 Report which the Authority declared marks the "Revolution in the Real Estate Market."

"The data in the report clearly indicates the consistent and growing increase in the volume of activity in the urban renewal market, despite the events of the war and the upheavals experienced by the Israeli economy in its aftermath," said the Authority. "Within this fram...