A THREE-BEDROOM DUPLEX IN A BAUHAUS BUILDING

In recent years Tel Aviv’s real estate values have risen slowly and steadily. In 2003, the average price of an apartment was 896,100 shekels ($226,374); in 2008, it was 1,205,400 shekels ($304,509), according to the Central Bureau of Statistics, a government agency.

The economic downturn has slowed the market. By the middle of 2008, “the market froze,” Yoram Indik, a Tel Aviv-based real-estate broker, said. “People didn’t want to sell, buyers didn’t want to buy.”

But even though the pace of sales has slowed, housing prices are generally still on the rise. For the first quarter of 2009, the average price of an apartment was 1,283,000 shekels ($324,113) according to the Central Bureau of Statistics.

Sharp drop in number of Israeli millionaires

The report also reveals that while the number of people with more than $1 million in net assets fell 14.9%, the number of millionaires in Israel dropped by an almost double rate of 28%.

A millionaire is defined as a person people with net assets of more than $1 million excluding their main home and everyday possessions. The report ranks an ultra-rich as a person with at a fortune of more than $30 million.

According to Merrill Lynch, the number of ultra-rich in Israel dropped from 97 to 73 in the past year – down 24.6%.

Israeli company in talks to take a £100m stake in British Land's

A company owned by one of Israel's richest men disclosed yesterday that it is in talks to buy a stake in the City of London's famous Broadgate office complex from British Land.

Property and Building, which is controlled by Nochi Dankner, the billionaire, said in a statement to the Tel Aviv stock exchange that it was in the initial stages of buying a stake in Broadgate for £100 million. Harel, Israel's third-biggest insurance company, said separately that it was looking at investing about £45 million.

TheMarker U.S.-Israel business summit, June 24-25, NYC

Last year's Summit was held at another well-known New York landmark - the Plaza Hotel, overlooking Central Park. Guests included then opposition leader and current prime minister Benjamin Netanyahu, New Jersey Governor Jon Corzine, former Citigroup Chairman and CEO Sanford Weill, Prof. Nouriel Roubini and Donald Trump.