Geocartagraphia business development manager Itai Shafran said the mall was in an unattractive location.
Of the 1.96 million young adults aged 18-34 living in Israel in 2018, 978,000, exactly half, were living with their parents, sharply up from 2000, the Central Bureau of Statistics reports.
With hotels and the skies closed, Israelis have replaced foreign tourists in the short-term apartments rental market.
A selection of recent real estate deals in Israel including in Herzliya, Ra'anana, Netanya, Or Yehuda, Even Yehuda and Yavne.
Prices rose by an annualized 6% between May and November last year, with the rise accelerating from the second lockdown onward.
The Consumer Price Index has fallen 0.4% over the past 12 months but housing prices have risen 4%.
Hagag is confident that the building rights for a 37-floor residential tower will be substantially increased.