New Ramat Gan Residential Construction (Kofer Ha'Yeshuv)

Stark contrast between old and new apartment buildings, Ramat Gan, Israel / @ DAVider 2015

Ramat Gan is still building residential units at a fast pace. First builders go after empty lots between existing buildings. They are also looking for older buildings with residents willing to "demolish and rebuild". A program backed by the state to renew older sections of the central region. Israel's central region is densely populated and demand for housing is strong. Housing prices have seen 10% rise in prices year-over-year for over a decade. With government statistics not exactly reflecting real street valuations. This makes affordable housing almost an impossible task for new buyers. High housing prices (including rentals) is pushing new construction at the high-end segment (luxury apartments are being built at a fast pace while affordable construction is very weak). This picture is a contrasting view between apartments in the old style (40 to 50 years ago) to the new construction. In the past, affordable construction was the state's priority. This is not the case with Benyamin Netanyahu's last two terms. Fast cement block and stucco beige outer walls is being replaced by glass and aluminum. Looks aside, very few Israelis are able to buy the new luxury homes.