The Faire Fund has sold three more apartments in its luxury Faire Tower in Ramat Gan, after selling seventeen apartments during June. Some of the deals were for record prices in the city.
Faire Fund sold a 142-square meter five-room apartment with a 15-sqare meter balcony on the 24th floor for NIS 3.65 million, reflecting a price of NIS 24,000 per square meter, to a top doctor in the city. It also sold a 118-square meter four-room apartment with a 14-sqare meter balcony on the 20th floor for NIS 3.1 million, reflecting a price of NIS 25,000 per square meter, to a returning resident.
Housing classified price guide editor Levy Itzhak said that these prices were extraordinary for the Ramat Gan-Givatayim area. "Apartments, even in Givatayim, which is considered slightly more expensive, sell for NIS 18,500 per square meter. Prices in Ramat Gan are 5% cheaper. Apartments in Tel Aviv luxury Park Hatzemeret and in Ramat Gan's Diamond Exchange area go for up to NIS 22,000," he said.
The 31-storey Faire Tower is adjacent to the BSR Tower at the corner of Abba Hillel Silver Street and Hatzela Street. It has 90 apartments. Construction is due to begin in January 2011 and take three years.
Published by Globes [online], Israel business news - www.globes-online.com - on July 18, 2010
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