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Luxury crisis | Israel today

2020-06-22T05:30:25.330Z


25 NIS 170 million luxury apartments were sold during the closure period Real Estate Magazine


25 luxury apartments totaling about NIS 170 million were sold during the closure period • First place: Jerusalem

  • RECANATI RESIDENCE. Evacuation-construction in Ramat Aviv third

    Photo: 

    : View Point

Produced by the Special Additives Department

Are the world's rich on the way to the country following the Corona and the US riots? The answer is yes. The Corona crisis and the closure of about two months did not, apparently, stop the Israeli luxury housing market. 25 deals to purchase luxury apartments totaling NIS 170 million were signed at a time when each Israel was spotty at home - from March 15 to May 21. Some Israeli buyers and some are foreigners.

Recall, the Health Ministry's restrictions have sent the public to stay in homes to prevent the spread of the Corona virus and prohibit congregation and exit into the public space during this time.

An analysis by the Israel Tax Assessment Authority's Israel Jacob, an expert accompanying their project in the real estate industry, shows that the average price at which each apartment was sold is NIS 6.8 million, with the most expensive apartment being sold for NIS 12.7 million.

The highest priced deals were made in Jerusalem, Tel Aviv and Ramat Hasharon. The analysis examined all transactions for the purchase of residential apartments during this period, starting at NIS 5 million.

Of the 25 transactions, 7 were in Jerusalem, 4 in Tel Aviv, 5 in Ramat Gan, 2 in Herzliya, and a few other transactions in the cities of Ramat Hasharon, Netanya, Ashdod, Ramat Efal and Bat Yam.

According to Jacob, "The Corona virus has not completely stopped the real estate market. Also in March and April, deals were signed, mainly for apartments where negotiations began even before the Corona. The luxury market is no different in this regard. It should be borne in mind that some companies have given different benefits, whether in the form of financing or discounts to close a deal. Proved that the value of residential property was not compromised, certainly if it is compared to the capital markets. "

The highest transaction during the closure period as well as the third highest was in Jerusalem. In the most expensive deal, the 6-room apartment was sold for NIS 12.73 million. This is an apartment of 250 square meters + a roof of 160 square meters in the "Jerusalem of gold" project of the Schechter Group in the city center.

The second deal was in the evacuation-construction project RECANATI RESIDENCE of Ashdar on Recanati Street in Ramat Aviv. This is a 6-room apartment with an area of ​​237 sqm + 49 sqm of balcony on the 14th floor of the tower, which sold for NIS 12,611 million.

The third deal was for the LINCOLN RESIDENCE project in Talbiyeh's capital in the capital of A.A. Greenbaum Initiation and Construction together with the construction company sharing essentials. This is a 5-room apartment of 215 square meters on the ground floor of the building, which sold for NIS 12 million.

Other examples: In Savyon, a 5 room detached cottage in the area is sold for 386 sq.m. for NIS 9 million. In Ramat Gan a garden apartment is sold on 146 sq.m. and another 135 sq.m. garden on Yoav Street for NIS 5.8 million.

The three highest deals in Tel Aviv, at a cumulative price of NIS 19 million, were carried out in the mega-prestigious Migdal Genesis project set up by the Kuzhinoff family in the Babli neighborhood of Tel Aviv. During the closure period, the tower sold two 4-room apartments on the seventh floor of 113 sqm + 14 sqm of balcony for NIS 7 million for each, and another 3 room apartment on the same floor of 87 sqm + 10 sq.m. At a cost of about NIS 5 million.

The Genesis Tower, which is being built on 12 Bellim Street in Tel Aviv, will rise to 44 floors with 174 luxury apartments. According to entrepreneur Moti Kuzhinoff, "We did not stop activity in the Corona crisis as well, when the entire economy was closed, and we were able to sign a number of sales contracts. The buyers are Israelis."

The Andromeda Project of the Merman plant and Cresso Real Estate // Photo: PR

Another deal in Tel Aviv - Jaffa was closed on the Andromeda Reborn project, which is currently being built by the companies Zemerman Hamerman and Cresso Real Estate. This is a 4-room apartment on 135 sqm + two balconies on 13 sqm and 12 sqm on the 6th floor 8. The apartment faces west and the sea from the living room and kitchen, and to the more urban part of Jaffa towards the south of the bedrooms. Apartment Price: NIS 6.807 million.

The Andromeda complex is located in ancient Jaffa, between the streets of Louis Pasteur, Jaffa and Yehuda Margosa, near the Stai, Jaffa and Margosa hotels. The project includes 55 luxury apartments in 2 7-story buildings.

Seal in isolation

 During the Corona period, from March until today, the Aviv Group closed deals in the NIS 48 million for the Foreign Ministry in Jerusalem. The prestigious residential project is located in the former Ministry of Foreign Affairs complex.

 "After checking that this is possible in terms of regulations, we sent our clients blooming orchids with a personal letter of blessing for good health and renewal," says Meirav Billet, Deputy CEO of Aviv Group. "They were waiting for them in coordination with them at their doorstep."

Ministry of Foreign Affairs. Personal Relationship to Customers // Photo :: Studio Aiko

She says about her clients' uncertainty:"At the beginning of the Corona, our client from France, who was about to close, was afraid to move forward due to the very worrying and unstable situation in France. We patiently gave him space while describing that the situation in the country was safer and more stable. After checking with a number of professionals, he decided to move forward with the purchase of the apartment and signed a contract, and is now also interested in another apartment. "

And what do you do when there are customers who have been isolated "For another client, who was in continuous isolation and yet wanted to move forward and not wait, we left the contract at the door while his attorney was talking to him and waiting for him for two hours in the vehicle, so that he would finalize the wording and sign it."

The Corona days were particularly difficult for the older population. Billet says: "A couple of our older customers couldn't leave the house for several weeks. As soon as possible, they reached the office of Aviv Company in just one hour. In order to keep them as far as we can, they arranged a room with an attorney for them only, where they signed the contract and renewed in their dream apartment. "

Produced by the Special Additives Department

Source: israelhayom

All news articles on 2020-06-22

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