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Tuesday, April 01, 2008

Tel Aviv's most expensive flat, a steal at $34 million

The elite Tel Aviv real estate market is sailing to unrecognizable heights these days, at least as far as contractors can see.

The Gindi Group, which holds construction of the G Tower in central Tel Aviv, recently announced that it would be selling one of its apartments for $34 million - the highest-priced flat in the city.

The cost is nearly twice that of Israel's currently highest-priced apartment, purchased by Idan Ofer on Rothschild Boulevard 1 for $17.1 million.
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The question now is whether anybody will actually be willing to pay the demanded amount.