Record price paid for Netanya apartment

A French new immigrant paid NIS 8.58 million for a seaside apartment in Dizengoff Trading Group's Lagoon project.

A record price has been paid for a Netanya apartment. Dizengoff Trading Group Ltd. today announced that a French new immigrant paid NIS 8.58 million for a seaside 280-square meter apartment with a 60-square meter balcony on the 30th floor of its Lagoon project. The company has sold 87 apartments to date in the two-building residential and tourist project by the city's south beach.

Tax Authority records show that new deal breaks the previous record set by the project: the sale in June of a 200-square meter apartment on the 21st floor of the Lagoon project for NIS 6.71 million.

Dizengoff Trading Group VP Hanan Segal said, "Netanya is breaking its records for real estate prices. Demand is rising and the supply of seafront apartments is dwindling. There were 1,214 housing starts in the city in 2012, but only 99 housing starts in the first quarter of 2013."

The Lagoon project includes two high-rises, one of 34 floors and the other of 37 floors. It will have 320 apartments, a hotel, and a boulevard of shops and cafes. Re/MAX Israel Ltd. is the real estate agent.

Published by Globes [online], Israel business news - - on August 6, 2013

© Copyright of Globes Publisher Itonut (1983) Ltd. 2013

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