Israel Real Estate marketing budgets tripled in recent years

"If five years ago you could market a residential project at a cost of one percent to 1.5% of sales, today marketing costs have risen to between 4.5% to 5% of the total sales of the project," said Dror Ohev Zion, managing director of Dara. "The expenditure for marketing a project has increased significantly over the past five years as a result of a number of factors including a rise in standards in terms of presentation and demonstration to the client, fierce competition in the marketing of residential projects and the increased need to venture out to foreign markets."