Despite Tel Aviv having been founded in 1909 and merging with neighboring Jaffa in 1948, the city has never formulated an urban masterplan, that is, until today. Last month saw Tel Aviv-Jaffa mayor Ron Huldai sign the TA-5000 plan, creating a unified vision for the city thru 2025.
Despite the Finance Minister Kahlon’s policies designed to slow the rate of appreciation in Israel’s real estate market, prices continued to rise according to the most recent government report. Tel Aviv prices are up 17% from 2015
Traditionally Israelis dreamt of owning a a private home, complete with backyard, a fence, and a pool. Looking at the recent construction data, however, points to a new phenomena, one that we’ve seen already for quite some in the Tel Aviv real estate market for some time.