100,000 shekels a month: Who rents the luxury apartments
A Globes real estate article examines the luxury rental market in Israel, featuring examples of a penthouse in Tel Aviv for 60,000 shekels per month and a house in Jerusalem for 55,000 shekels. Brokers explain that tenants are foreign residents and businesspeople, and prices are rising due to demand for new properties near the sea.
A Globes real estate article examines the luxury rental market in Israel, focusing on apartments and houses with monthly rents reaching tens of thousands of shekels. The article opens with the story of a couple who searched for an apartment in Tel Aviv with a budget of about 30,000 shekels per month, and ultimately rented a penthouse for 60,000 shekels per month. In Jerusalem, a businessman rented a house in the Shaarei Hesed neighborhood for 55,000 shekels per month. Listings on sites like Sotheby's show higher prices: an apartment in the Arlozorov Tower for 80,000 shekels per month, and a villa in Herzliya Pituah for $25,000 per month. Brokers Ib Samian and Oren Cohen explain that tenants are mainly foreign residents and businesspeople, and that prices have not dropped and have even risen due to demand for new properties near the sea. The article also discusses why wealthy individuals choose to rent rather than buy, including a preference to invest money elsewhere, a limited period of residence, and a low yield of 1.5%-2% for property owners.