GLOBAL COMPANIES REAL-ESTATE INITIATIVES
Several firms assist their employees (and others) in having an affordable residential housing, for purchasing or renting. Here are some examples :
– [The cost of buying or renting a home has become a hot topic in Reykjavik, Iceland. Ikea built an apartment block there, in order to give their employees somewhere affordable to live. The 36 flats will be rented at a lowest rent from 900$/month. The average rental price for a one bedroom flat in Reykjavik’s city center is 1,555$. Ikea staff will be given priority in renting the new housing, but it may also be offered to students and workers at a new supermarket being built in the area.
– [The lack of new supply, combined with the rising cost of living, has resulted in a severe shortage of affordable housing options for long-time middle- and low-income residents in the San Francisco Bay Area. Over the next 10 years, Google will repurpose at least $750 million of Google’s land, most of which is currently zoned for office or commercial space, as residential housing. This will enable Google to support the development of at least 15,000 new homes at all income levels in the Bay Area, including housing options for middle and low-income families.
– [Apple announced a $2.5 billion plan to address the housing crisis in California. Plan includes a $1 billion investment fund for affordable housing and another $1 billion to buy mortgages. Apple also intends to make a 40-acre, $300 million property it owns in San Jose, Calif., available for new affordable housing. Apple’s housing plan is a response to the increasing pressure Silicon Valley’s tech giants are under to play a more active role in the region’s housing crisis.
MORE INTERESTING ARTICLES
- A CBS (Central bureau of Statistics) Paper (Y:2012) presents a study of the price movements over the past decade (1999-2009) in the Israeli housing market at the regional level and analyzes the variables that affect housing prices and the estimation of their elasticity. The price indices were calculated based on the hedonic methodology, using the CPIM technique.
- D&B “The Israeli Market 2018 Review” :: Chapter 2.1 – Residential Real Estate
- CALCALIST Article (11/2017) on Israel’s population density
- TheMarker Article (02/2017) on the real-estate investment profitability.
- GlobalPropertyGuide Article “Israel’s decade-long house price boom is finally over”, 10/2019
- Shoresh Institute – Housing market research paper (11/2016)
- Gazit-Globe Real Estate Institute – (05/2019) GGII Housing Index
- Israel in Figures – selected data from the statistical abstract of Israel (2018)
- Numbeo = User-generated cost-of-living database
