Analysts: Lapid won't be able to lower apartment prices

Yair Lapid as the next finance minister of Israel will lead to a government policy to increase employment among Haredi men, so at least 82% of analysts and activists in the Israeli capital market believe according to an expectation poll conducted last weekend by 174 analysts in about 50 investment firms, banks and entities that manage investments by the Ministry of investor relations and PR Gelbert Kahana.

The referendum dealt with the expected effect of the advent of Lapid as finance minister and several current issues of Israeli economy. The referendum showed that about 62% of them are satisfied with the appointment of Lapid as finance minister and believe that he is suitable to play the role, while 38% are dissatisfied and do not see him as appropriate.

Questions relating to tax policy which Lapid is expected to adopt as finance minister, then 61% of analysts and investment managers believe that Lapid will raise taxes on the middle class, while 39% believe that he will not do so; approximately 59% of them believe that he will raise income tax, while about 41% say he will not to do so; and 63% believe that Lapid would reduce the tax benefits to large companies, while about 37% said he would not do so.

On the ability of Lapid to lead a government policy which will lower the real estate and housing prices in Israel, analysts and investment managers are less optimistic. About 46% of them believe he could reduce the cost of Israeli real estate prices, while about 54% do not believe he will manage to do so.

In a referendum of expectations among analysts and investment managers they were also asked about their assessment of economic indicators including the growth rate of the economy in 2013, the exchange rate at the end of 2013 and TA index 100 at the end of 2013. In addition, respondents were asked whether there the retirement age should be higher. Approximately 67% believe that the economy will grow in 2013 less than the growth target of the Bank of Israel and only 4% believe the economy will grow beyond the growth target set by the central bank. Approximately 74% of them believe that the exchange rate is expected to rise by the end of 2013 and about 92% believe that the stock market will continue to rise throughout 2013, while nearly half of the respondents believe there will be a continued growth of 9% to 18% in the Tel Aviv index 100 by the end of 2013.

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