Thursday, November 17, 2016
|Standup Surfing in Bat Galim beach Haifa. Slower lifestyle, quieter residential neighborhoods and affordable housing is luring Tel Avivians to north Israel. Haifa is one of the preferred destination © 2016 D-A Vider|
Lifestyle and cost of living in Tel Aviv are compared to many European cities. Israel's central district (Gush Dan) has been on a growth spurt the last fifteen years. Most visitors who were here just a decade ago are amazed by the developments. But many Israelis are not happy. Housing prices are climbing steadily much faster than salaries. City centers (both Tel Aviv and surrounding suburbs) are crowded and noisy. The quaint Mediterranean beach cities, small communities hidden in sandy dunes, towns built in historical biblical locations and small agricultural settlements are gone. Simply put the last thirty years has turned central Israel from a quiet semi-rural land to a developed suburban sprawl. This is the lifestyle cost Israelis are paying for world leading economic success. When Israelis tell people about one of the most successful economies in the whole last century. Essentially creating a country from ideas and sand dunes. From colonial rule and antiquated laws to a modern fully functioning democratic republic - the personal cost is rarely mentioned. Yet this is the life in Israel.
Thursday, February 11, 2016
|One of Givatay'im's "green blocks" is Shenkin Street. Nice gardening example in this side entrance.|
Wednesday, December 2, 2015
|Beautiful repeating geometric shapes in new north Tel Aviv neighborhood, Derech Namir, Nov. 2015|
Tuesday, October 20, 2015
|Gail (a visitor from the US) with the Tel Aviv "duck" | © 2015 DAVider|
Tuesday, September 29, 2015
|Ramat Gan, just east of Tel Aviv is chasing FinTech firms with new attractive construction @ DAVider 2015|
Monday, September 21, 2015
|New hi-rise buildings in north Tel Aviv still going up fast @ DAVider 2015|
Tuesday, September 8, 2015
|Apartment listed in north Dizengoff realtor: 45 sqr-mtr, 1 bedroon, US$ 500,000|
Sunday, September 6, 2015
Three pictures from a daily life in Tel Aviv...
|New building almost finished at Ben Yehuda and Arlozorov. Last year 55 - 65 sqr-mtr apartments were selling for NIS 2MM|
|Taking advantage of the hot weather on the first week of September, beach-goers catch the last rays of 2015|
Wednesday, August 7, 2013
|Gindi, a leading real estate developer, market luxury in Tel Aviv (Israel)|
Sunday, August 4, 2013
|Main tower dubbed "Toblerone" is made up of triangle tubes like the chocolate|
Thursday, August 1, 2013
|Gindi's Givon / Old Wholesale Market project is one of Tel Aviv's biggest|
Sunday, July 14, 2013
|NOT Tel Aviv, city of Mt. Maunganui, Not the expensive real estate of Tel Aviv (from http://ashkenas.com/)|
Thursday, July 11, 2013
- High income individuals interested in Israel
- Zionist and Jews (a few Christians) which travel often and support Israel
- Jews in areas of stress interested in immigrating to Israel (French recently)
- Individuals familiar with Israel and with international investment aptitude
Monday, July 8, 2013
Wednesday, July 3, 2013
Saturday, June 29, 2013
Friday, June 28, 2013
Thursday, October 29, 2009
Tel Aviv apartments are being bought by Israelis for investment. They are rented at higher prices than in the past. There is also a rise in apartment renovation both by investors and by owners. This trend reflects a shift of money from investment in financial instruments which started two years. Mutual and hedge funds are shrinking while investment Real Estate is growing. I believe this is an opposite trend than the American and European economies, where Real Estate was booming for many years until the bubble burst. Usually a long trend in investment is a good sign for the future strength in the economy. The new investors in apartments are also raising rental prices. While rental price rise in Tel Aviv is mostly seen as a negative economic trend, there is not much said about the huge amount invested by individuals. Israelis have been pushed to own their own apartments ever since the state was founded in 1948. This desire to own your own apartment came at a cost of a rental apartment market specially in Tel Aviv. But like cities all over the world, there is a need for good rental apartments. Since the rental market was not a strong investment destination for Israelis, rental apartments are usually in bad shape and are owned by out of towners.Read More...
Monday, August 24, 2009
Summer is at it's end. In Israel it is a quiet time. Kids are shopping for school supplies. Families are taking their last vacation, there is one full week for summer vacation (called here Ha'chofesh Ha'gadol - literally 'the big vacation'). The peak hot days of mid-August are over with. The tourists have mostly left so 'the natives' are out in bars and cafes. You can go back to sleeping with the windows open. If you plan to come to Tel Aviv in the summer this is probably the best time. There is still plenty of good beach days, now that mid-day peak temperature are bearable. So if you were thinking of coming for a visit, do so now.
Now for the economy. Do you remember the Clinton campaign slogan: it's the economy, stupid? In Israel now this seems to be the case. The Netanyahu administration seems to be completely ignoring other things. Rightly so. The Israeli economy did not heat up the last ten years like other world economies. Locally there was the Lebanon war, than the Hamas take over in Gaza. Economically the Israeli Real Estate market never had the bump up from increase credit. There was never an increase credit here, the banks are too conservatives for that. Israel also did not suffer the sub-prime crash and then financial crisis which followed. But we kind of feel that the market should be going up now. Which is quietly happening, but without international news coverage. Israel economy is too small to make the news. Also, people expect news of Israel to be either something with the Palestinians or a high tech genius making it good in silicon valley. The Shekel is up and not going down. Stanley Fischer's attempt at holding back the shekel's rise with $10 million per day purchase of US dollars has finally been declared a silly attempt at controlling the Israeli shekel's exchange rate. People are spending more overseas and buying dollars and euros. Inflation is up in real terms. In Tel Aviv and the surrounding areas property values are going up slightly. Rental prices go up first, they are more flexible. Home prices are holding flat but rumors of higher demand and inflation in building supplies and builder's salaries are starting to worry buyers. In addition, since Israeli real estate prices have not gone down and are expected to go up, builders and Realtors are pitching to foreign investors. Everyone is hoping to get a piece of the foreign pie, even if it is smaller now. There is also a slight rise in interest form French and British Jews who see investment in Israel as a way to show solidarity for Israel and get a good return. Well, as the air temperature drops the economic temperature raises. If you do not plan to come fore vacation, come to invest. Jump right in, the water's fine!Read More...
Thursday, August 20, 2009
One sign of Israel's economic growth is the city's skyline literally rising from year to year. Tel Aviv commercial and residential real estate values have been rising steadily over the years. With little open space in the city center, the only place to go is up. Old buildings are demolished to make space for taller new buildings. Tel Aviv has a few signature buildings like the Azrieli center (3 buildings pictured below). Many of the new buildings are designed in traditional modern styles. Glass, aluminum and some stone is used in high rise buildings. The use of new materials in high rise office buildings is a skill Tel Aviv architects are known for. The graph in the bottom is Tel Aviv stock exchange 15 Real Estate index (NADLAN15). Notice the rise, fall and again rise of the index the last five years.
A top view of Azrieli towers. One triangle (left), one round and one square. Top of the square building housed the hotel Crown Plaza. The complex sits at the Ayalon highway and has a train station for easy access
Tel Aviv Real Estate 15 Index. The last five years the index has risen, fell and is rising again since mid-2008. The real estate companies have not enjoyed the stability of the actual market in Tel Aviv.