Israel may limit the sale of land to foreigners

23.12.2010 09:34
Amendment to the "land law" limiting the sale of land to foreigners in Israel, was on Wednesday, 22 December, the Knesset approved the first reading.

"The State of Israel must be a national home for Jews. I worry about the acquisition of land by foreign investors, because we do not know of any reasons and for what purpose they buy them. There is a possibility that they may be used by hostile parties. So we must act balanced and carefully guided by the interests of the state "- said Nachman Shai Knesset.

Another deputy, Shlomo Mula, added that priority should be given the foreigners who buy land in Israel to stay.

Opponents of the law, in turn, claim that it was illogical to any acquisition of any property in the country required the approval of the Minister for Defence and Minister of Foreign Affairs. In addition, they say, is contrary to the law on free trade.

MP David Rotem said that Israel had recently became a member of OECD, which obliges him to sell land and property to citizens of those countries are also members of this organization. He also noted that Israel has a similar obligations to the UN.
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Content tags: Overseas property
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