Private homes in Tel Aviv’s central neighborhoods are extremely hard to come by, with less than 30 still remaining. Investors and homebuyers have for many years sought in vain to get their hands on the precious few than come onto the market, to no avail. Israel’s prominent business journal, Globes, reported this week that a 450 square meter townhouse off of Rothschild Boulevard, on a small and tree lined side street, was sold for 30M NIS (7.74M USD). The building was built in 1926 in the Eclectic architectural style, the Neoclassical and Orientalist inspired style that was once popular in the Lev Hair neighborhood where the home is located, and predates the Bauhaus period of the city.
Private homes for sale in Tel Aviv are a rare item, with the majority being located in the Lev Hair neighborhood, with a hand full of others in Merkaz Hair and the Old North. Neve Tzedek, a bit further south of Lev Hair is home to the highest density of private homes, but it located slightly outside the city center. The past few years have seen a surge in demand for private homes in Tel Aviv, making them the hottest pieces of Tel Aviv real estate, with prices ranging from 20 – 40M NIS.