Before the corona, Eilat enjoyed great demand for commercial space.
There are currently no sales, but prices are not going down
Eilat is experiencing a challenging period
Photography:
Israel Tourism, Wikipedia
Produced by the Department of Special Supplements
Eilat is going through a kind of crisis.
Admittedly there are no sales, but there is also no drop in prices.
Since the beginning of the Corona, almost no deal has been signed.
Unemployment in the city is rising following the closure of all malls and hotels.
Before the corona, Eilat enjoyed great demand for commercial space.
On the transactions promenade, they crossed the NIS 100,000 per square meter threshold, unrecognized prices. The revenues of the malls in Eilat are among the highest in the country in terms of revenue per square meter.
The city is currently experiencing a challenging period, a kind of freeze that we do not know how to predict what the consequences will be.
However we are optimistic.
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Marlogs are almost non-existent in Eilat, but following the opening of Ramon International Airport, 15 km north of the city, we hope that large and international companies will enter and take advantage of the tax benefits of the free trade area and the VAT exemption and establish branches and Marlogs.
In conclusion, we will not forget the dream of the train to Eilat, which will surely lead to a significant change.
Shahar Cohen is
a commercial-commercial real estate expert in the city of Eilat
Produced by the Department of Special Supplements