Over 100 Q1 deals in Israel's luxury housing market

Bereshit Tower in Tel Aviv  / Imagin: MYS, ira prohorov

There were 112 deals in which homes were sold for more than NIS 5 million including 67 in Tel Aviv and 21 in Jerusalem.

In the first quarter of 2020 - at least until mid-March - it was business as usual in Israel's luxury housing market. There were 112 deals in which homes were sold for more than NIS 5 million, according to the Israel Tax Authority. Over half the deals - 67 - were in Tel Aviv, 21 in Jerusalem, five in Herzliya and the rest spread around the country.

99 of the deals were for apartments build since 2015 and 63 of them are apartments that have not yet been completed. A substantial number of these deals were in high-rise buildings.

The most expensive deal was a 347 square meter, seven-room apartment on the 22nd floor of the Bereshit Tower in Tel Aviv on Paamoni Street in Bavli in Old North Tel Aviv, which was sold for NIS 25.67 million.

The most expensive deal in Jerusalem was a 240 square meter apartment in the YMCA project in central Jerusalem behind the YMCA, which was sold for NIS 16.68 million in January.

One of the most expensive deals outside of Tel Aviv - Jerusalem - Herzliya was a 230 square meter, six-room, 13th floor apartment in the Nof Leyam (Sea View) project in Netanya's Ir Yamim on Natan Yonatan Street, which sold for NIS 7.23 million.

Off the beaten track altogether was a 425 square meter house on a 924 square meter lot on Hagiva Street in Nof Hagalil (formerly Nazareth Illit), which sold for NIS 5.2 million.

In Ashdod, a 295 square meter penthouse on Kinneret Street was sold for NIS 5.5 million.

Published by Globes, Israel business news - www.globes-online.com - on April 20, 2020

© Copyright of Globes Publisher Itonut (1983) Ltd. 2020

Bereshit Tower in Tel Aviv  / Imagin: MYS, ira prohorov
Bereshit Tower in Tel Aviv / Imagin: MYS, ira prohorov
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