The beginning of a bubble?

A resident of France was interested in purchasing a Netanya apartment overlooking the sea. The owner was asking $600,000. An assessor came to verify the property value on behalf of the Bank of Jerusalem, in order to approve a mortgage, and determined the apartment was worth only $500,000. When a bank representative informed the buyer, he was unfazed. "I know," he replied, "but a completely outfitted apartment where I don't have to alter a thing is convenient for my trips to Israel."