Jerusalem Property Update: May 5, 2022

Jerusalem Property Update:

Post Pesach Penthouse Specials!

Happy Yom Haatzmaut readers!

With tourists returning over Pesach and prices still being extremely high, there is still a lot of market activity carrying on. The main question is whether it is going to stop. The Israeli government would love for it to stop, as the government wants to slow down the market. 

Over the past 6 months the government has taken a few actions to try to push its agenda:

1) Raised purchase tax up to a minimum of 8% for foreign buyers.

2) The Bank of Israel has raised the interest rate by .25% and the estimate, although no guarantee, is that it will move up another 1% during this calendar year.

3) There is talk about penalizing owners of Airbnb and preventing short-term rentals in order to prevent empty apartments and holiday nests. No actual decision seems to have come out yet. 

All these actions beg the question of how this will affect the market. Is it going to slow down? Is it going to bring prices down?

Read our blog here to see Ben Levene, CapitIL’s Director of Sales, analysis of the Jerusalem real estate market in April 2022.

Take a look at some incredible Penthouse options that are available at special prices:


Brand New Penthouse in Brand New Arnona Project

Penthouse unit available in a new TAMA 38 Project on Ein Tzurim Street in Arnona. Ein Tzurim is a lovely area, surrounded by a lot of greenery, and is just over a 5-minute walk from a shopping center with supermarkets and kosher restaurants.

It is the ideal place to locate as Hadar Mall is within a 15-minute walk, and Nitzanim Synagogue is a 20-minute walk. The project will take approximately 3 years to complete. The unit is appx 1600 square feet with 600 square feet of terraces plus parking. The unit comes with high-end finishes.

The asking price is 5,550,000 NIS (approximately $1,650,000 USD).

Brand New Penthouse in Arnona

 


New Luxury Penthouse in Old Katamon - Great Bang for Buck

On a beautiful little green side street, only a 5 min walk to the Shtieblech, a luxury penthouse apartment in a brand new building is for sale.

This unit is 1500 square feet with a 200 square feet sukkah balcony with wonderful views and high-end finishes. This unit comes with a parking space and storage space.

The asking price is 6,600,000 NIS (approximately $1,980,000 USD).


Create Your Own Luxury 5 Bedroom Penthouse in Heart of Katamon

Located in a building undergoing a full refurbishment in the heart of Old Katamon, about 200 meters from the famous Shtieblech Shul!

There is currently a great option to purchase a combination of 2 new penthouses totaling 1800 square feet with 5 bedrooms, 3.5 bathrooms, a 400 square feet balcony, and private parking. This unit can be designed for your needs!

The following concept plan is subject to change. The unit will be complete with high technical specifications and luxury finishes, and the building will have a beautiful lobby, elevators, and private parking. The project is due to be ready in approximately 2.5 years.

The current closing price is 8,150,000 NIS (approximately $2,400,000 USD).

This is a concept plan:


Upscale Penthouse Duplex in the Greek Colony

In a building that is just 5 years old, this beautiful apartment has been designed and built with amazing use of space in mind.

The unit is 1900 square feet with 4 bedrooms, 2.5 bathrooms, a gorgeous, stylish kitchen, and wonderful custom carpentry.

There are 2 large sukkah balconies totaling 850 square feet with amazing views off of the living room, as well as one pleasant balcony off of the master bedroom. The unit comes with 2 parking spots.

The asking price is 11,500,000 NIS (approximately $3,400,000 USD).


Have a great shabbat! See more Jerusalem properties here. And, Jerusalem projects here.

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