JERUSALEM (JTA) — An Israeli government committee has approved land reform that will allow the sale or transfer of land to private parties.
Under the reform approved Monday by the special ministerial committee, land will be transferred from the Israel Land Administration to the individuals or businesses holding long-term leases. New land will be marketed strictly for sale, the Israeli business daily Globes reported.
The responsibility for planning and developing land infrastructure will be transferred to local authorities and the private sector.
Until now, all Israel Land Administration land has been leased for 99 years to homeowners and businesses.
"The reform will enable the general public to become the owners of the apartments and houses that they live in, and will end the dependence on inefficient and burdensome bureaucratic mechanisms," Prime Minister Benjamin Netanyahu said after the approval, Ha’aretz reported. "The reform will also reduce the price of land and, correspondingly, the prices of apartments, putting them within the price range of young couples and newly discharged soldiers."