You might have noticed that the prices of apartments in Tel Aviv are increasing but this is not a new trend. In fact it has always been this way. The speed of the increase is what fluctuates. Although the government introduced a policy geared toward slowing this down the costs continue to rise and is usually referred to as the Israel Real Estate Bubble. Tel Aviv apartments fall into this category. The governor of the Bank of Israel is quoted as having said that the prices are too high and that this bodes trouble in the future. In order to do something about it old taxes were raised and new taxes were introduced. Interestingly these efforts did not produce the desired results.
Many have speculated as to the reasons for this. Some feel that the apartments in Tel Aviv pose a great investment opportunity for both business and leisure concerns and that all individual tastes are satisfied. Of course some may feel that the excessive supply of both bacon and seafood is overwhelming. And while on the topic of food it is worthwhile noting that aside from India Israel is also a very vegetarian place thanks to the distinction between meat and milk.
Of course another good reason for the increase is that the center of the town is historically rich such as in the White City with its Bauhaus style. When Bauhaus became en-vogue at its inception it was at the same time that Tel Aviv really began to boom. There were European cities enjoying the Bauhaus feel but after WWII there was a rapid decline. Among Tel Aviv apartments White City offers Mediterranean flair thanks to its hot and humid climate. UNESCO recognized it as a world heritage site and considers it one of a kind. And now even public transport has received a boost with the inception of the streetcar. Although some areas have to put up with the mess and noise of this upgrade it is nevertheless a temporary setback and before long we will be seeing apartments in Tel Aviv advertised as being near to streetcar access. Locals are looking forward to a much cleaner and quieter area.
Although White City is going green other sections of the city are still lagging somewhat behind. One such part is Old Port with its fantastic restaurants, bars, and boutiques. Taking a short walk east will lead you to the quieter North Tel Aviv residential district and it’s unique and beautiful apartments. Old Yafo is another area that is getting ready with its high-end apartment buildings. They share space with the old that are being restored to the former beauty, as well as the modern. One doesn’t have to look hard to discover why this city has been so popular for so many years.
It is definitely a sound investment when one buys a Tel Aviv apartment especially when one considers that the city is still so popular among tourists. For owners this offers an excellent opportunity to make money as many tourists prefer renting self-catering holiday accommodation as opposed to staying in a hotel.
With so much on offer it’s not surprise that Tel Aviv apartments continue to rise and why developers are eagerly awaiting the investment opportunities appearing on the horizon. Despite the attempts made by government to slow things down it is unlikely that their objective is going to be achieved.