Maki Group co-founder, Mati Bortnick, is the newest member of the Times of Israel‘s real estate reporting team. Read his column here, covering the Tel Aviv property market, unique properties, and much more!
According to an article published in the Independent, Tel Aviv ranks third in the world as the destination of choice for high net worth individuals. The report points out the exit of many European cities of such individuals, with Tel Aviv attracting more than 2,000 over the past year.
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