Minister of Interior Gilad Erdan has sold his home on Dukhafit St. in Savion. Two years ago, in a special "Globes" project listing particulars of the houses in which Israeli elected officials live, the house was valued at NIS 7 million.
Associates of Erdan say that his reason for selling the house was financial, because it bears a mortgage amounting to half the house's value, and he can pay off his mortgage after it is sold.
Several years ago, Erdan lived in the small community of Gan Yehuda. He purchased a 0.5-dunam (0.125-acre) lot on Dukhafit St. in Savion in a bargain campaign by Africa-Israel Investments Ltd. (TASE:AFIL) in which 292 of its 0.5-dunam lots were sold.
Construction of the house was completed in 2013, and the Erdan family moved in. The house has 300 sq.m. of built-up space. Its advantages are its corner location and its topographical elevation. It faces a one-dunam (0.25-acre) lot, and is therefore less adjacent to the neighboring buildings, with a great deal of privacy.
Erdan's associates say he wants to live in a rented apartment in Bikat Ono. He bought an apartment in Ramat Aviv as part of a buyers group, construction of which is scheduled for completion in 2015. Erdan also took a mortgage on this apartment, making him choose whether he wanted to live in Savion or Ramat Aviv.
Published by Globes [online], Israel business news - www.globes-online.com - on December 30, 2014
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