40% of apartment owners fear renovations amid northern war threat

According to an investigation conducted by the Association of Renovation Contractors, 40% of apartment owners are delaying renovations because of war concerns.

 Wildfires sparked by rockets in the Kiryat Shmona area. May 27, 2024 (photo credit: FIRE AND RESCUE SERVICE)
Wildfires sparked by rockets in the Kiryat Shmona area. May 27, 2024
(photo credit: FIRE AND RESCUE SERVICE)

An inspection by the Association of Renovation Contractors conducted among apartment owners planning to renovate in July and August revealed a significant finding: 40% of these owners have postponed or drastically reduced their renovation plans due to the fear of war in the North

Eran Siev, chairman of the Renovation Contractors Association, responded, saying, "The situation of the renovation industry since October 7th is dire. Many in the industry are unable to make a living, and the State of Israel treats the industry as inferior, ignoring its needs entirely."

Siev continued, "There is no doubt that the situation in the North is causing many people to rethink their plans and either postpone, reduce, or cancel their renovations. Typically, July and August are boom periods for the industry. Many apartment owners tend to go abroad and leave their apartments to the renovation contractors or move and renovate their new apartments."

He claims the entire industry suffers from the state's attitude and disdain, affecting thousands of livelihoods. "The fact that we don't have workers, that work is drastically decreasing, that livelihoods are being harmed, and that the state is ignoring us must change," Siev asserted.