"There's not much new construction in Tel Aviv that could trigger a price cut," explains real estate lawyer Andy Schwartz. According to him, the market has returned to where it was before October 7, 2023. Although similar conditions in many other countries would cause a huge drop in sales and prices, the Israeli market remains resilient. An additional advantage of Tel Aviv is that buyers receive full ownership of the land, that is, they do not rent it and are not required to obtain permission from the land department, Schwartz believes.
At the end of last year, sales of apartments and houses in Israel collapsed, and the market ended 2023 with record lows. However, already at the beginning of 2024, the situation began straighten out.
Source: I-24
