TLV News: keep track of Tel Aviv’s real estate jungle
You have an piggy bank where you put money in order to save enough so you can finally buy that dream apartment in Tel Aviv? Be quick! From January 1 it’s no longer allowed to pay in cash for homes and renovations. The government is finally cracking down on the black market, writes Haaretz: https://www.haaretz.com/israel-news/business/.premium-israel-to-ban-cash-payments-in-real-estate-sales-as-of-january-1.6699843
Russian billionaire Roman Abramovich has no problem putting some cash down for a TLV apartment. He is building a 1500m2 mansion in Neve Tzedek. He payed a few years ago $27 million for the property. One of the guys who made a profit from that: Yaron Varsano, the husband of ‘Wonder Woman’ Gal Gadot. More on the incredible mansion: https://www.calcalistech.com/ctech/articles/0,7340,L-3750284,00.html
Are the crazy days finally over? The volume of real estate deals in Israel is still declining, writes Globes, and reached its lowest point since the social protests in 2011. As a result of the dearth of purchases by investors, the volume of deals in the second quarter of 2018 reached the lowest point since the beginning of the decade. The volume of purchases in the Tel Aviv region was the lowest since the days of the intifada and the recession in the first quarter of 2003. https://en.globes.co.il/en/article-real-estate-deals-in-tel-aviv-fall-to-15-year-low-1001253246