Tel Aviv-Yafo Municipality announced today that it will hold a lottery for 80 apartments in 2023 in six different new developments across the city, as part of its project for affordable housing.
The lottery will include: 22 three-room apartments in the Midtown project near Park Sarona and the Azrieli Center at 144 Menachem Begin Road; 21 three-room apartments in the Azrieli Town project at 146 Menachem Begin Road; six three-room apartments in the 33 Yesod Hama'aleh project; six 3-5 room apartments in the Ganei Shapira project; 25 two-room apartments in the Gindi Hashmonaim project at the corner of Carlebach and Hahashmonaim Streets; and one two-room apartment in the WE project at 150 Menachem Begin Road.
Tel Aviv-Yafo Municipality stressed that during 2023 more apartment will be added and those already registered will be included in all lotteries.
Monthly rent on the three-room apartments will be NIS 4,900 for a five year lease with a monthly management fee of NIS 466. According to the Madlan website the average rent for a three-room apartment in the area is NIS 5,500.
This is the first such lottery held by Tel Aviv-Yafo Municipality since March 2021 when 48 2.5-room apartments with balconies were raffled off in Migdalei Hatzi'irim Street in Arlozorov Street.
Registration for the lottery opens today and closes on January 25, 2023.
Tel Aviv-Yafo Mayor Ron Huldai said, "The Tel Aviv-Yafo Municipality continues to lead the housing revolution in the field of reduced-price rentals by planning an unprecedented amount of affordable apartments in Tel Aviv-Yafo. As of today, hundreds of affordable housing units in the city are occupied, and thousands of such housing units are in various stages of planning and construction.
Published by Globes, Israel business news - en.globes.co.il - on December 21, 2022.
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