Africa-Israel has begun selling the project at the Ramat Aviv Hotel for $5,000 per sq.m. 60 apartments were sold in August.
Africa-Israel Investments sold its first apartment in the "Ramat Aviv Residence" project last week, to be built on property now occupied by the Ramat Aviv Hotel. The 4-room, 138 sq.m. apartment was sold to an established local businessman for $687,000. The price includes VAT and an underground parking lot. The price was 5,000 per sq. m. This will be the average price for an apartment in the 400-apartment project.
According to a preliminary calculation, Africa-Israel sold some 60 apartments in August, a slight drop in contrast to July. The prices are linked to the index.