North Tel Aviv Construction

Beautiful repeating geometric shapes in new north Tel Aviv neighborhood, Derech Namir, Nov. 2015

Tel Aviv proper does not have large tracts of land for new construction. The few empty areas have been spared so far are falling in the hands of developers. Old areas which can be cleared (as the old produce wholesale market on the Cheshmonaim street and the IDF headquarters) are also turning into target for luxury apartment builders. The shift from low cost mass construction to luxury is steady and strong. Waves of large immigration, which defined Israel's construction style in the past, are not expected in the near future. With the continued economic growth of the state, both consumers and builders are looking to buy bigger and better-finished apartments. Also the demand to live in the Tel Aviv area is stronger than ever before. Building large luxury neighborhoods in central Israel is strong now and should continue unless a major economic change hits.