Real estate company Aora, led by Yaakov Atrakchi, reported a 22% drop in housing sales in the first quarter of 2026, mainly due to the conflict with Iran. Despite this, gross profit increased by 18% to 136 million shekels. Atrakchi criticizes the national affordable housing program, which he sees as declining, and predicts its cancellation next year. He notes that a significant drop in real estate prices could bring buyers back to the market. However, he doubts construction companies can survive without an interest rate cut, which he sees as inevitable once the government reduces its spending. Atrakchi also highlights the reluctance of potential buyers to commit to major purchases amid economic uncertainty. He further comments on the political influence in the sector, noting the challenges for companies without institutional support.
