Hard evidence that the Tel Aviv apartment rental and sales sector is rapidly expanding is illustrated by the Tel Aviv Stock Exchange (TASE) which has also risen recently, and of all sectors real estate has taken the largest and most consistent jump.
Investors both in Israel and abroad run first for the real estate sector morning sessions begin and end with Africa-Israel Investments Ltd. (TASE:AFIL; Pink Sheets:AFIVY.PK) and Kardan NV (TASE: KRNV;AEX:KARD) becoming the two main beneficiaries. Africa-Israel climbed 4.5 percent while Kardan rose 5.3 percent.
Ocif Investment and Development, the Tel Aviv real estate and apartment property controlled by Israel businessman and billionaire Arkady Gaydamak, continues to climb. Migdal Insurance Holdings Ltd., Israel's biggest life insurer, is in talks to buy Tel Aviv rental apartments and real estate from Gaydamak for NIS 1.5 billion.
Thursday, August 28, 2008
Friday, August 22, 2008
RE/Max is the largest real-estate brokerage network in Israel
Bernard Raskin has come a long way since his childhood in Rhodesia, now Zimbabwe. He received a PhD in criminology from the University of Pennsylvania in the United States. When he came to Israel in 1983 he became a lecturer at Bar-Ilan University for seven years. Raskin might be the only criminologist who switched from a sedentary and secure university job to the dynamism of a business career in real estate. But for Raskin it came naturally.
"I started my working life in the ivory towers of the academic establishment, but from the beginning I was interested in the business world," he says.
"While at Bar-Ilan, I slowly realized the business opportunities in local real estate and decided that if I was going to go into business, real estate was my best option. At those times there were no global real-estate brokerage firms in Israel, and I realized that representing a large, well-known global brokerage could be successful. That is the reason I approached RE/Max.
"I started my working life in the ivory towers of the academic establishment, but from the beginning I was interested in the business world," he says.
"While at Bar-Ilan, I slowly realized the business opportunities in local real estate and decided that if I was going to go into business, real estate was my best option. At those times there were no global real-estate brokerage firms in Israel, and I realized that representing a large, well-known global brokerage could be successful. That is the reason I approached RE/Max.
Friday, August 15, 2008
Sharpest real estate drops in Haifa
"The Israeli residential market has been unchanged in recent years, except in greater Tel Aviv and Jerusalem, where there has been a sharp rise in demand and prices," says Union Bank in a survey on the housing market. The bank says that the average apartment price has fallen 7% since April 2006. The average apartment price fell by 2% in the north, 7% in the Sharon region, and that the sharpest decline was in Haifa - 22.5%.
In contrast, the average apartment rose by 10% in the south in the past two years, by 6% in Jerusalem, 3.4% in Tel Aviv, and 3.3% in the central region.
In contrast, the average apartment rose by 10% in the south in the past two years, by 6% in Jerusalem, 3.4% in Tel Aviv, and 3.3% in the central region.
Sunday, August 03, 2008
Migdal Insurance in talks to buy TA real estate from Gaydamak
Ocif Investment and Development, the property company controlled by Israeli businessman Arkady Gaydamak, climbed for a fifth day, increasing NIS 1.21, or 2.5%, to 48.93. Migdal Insurance Holdings Ltd., Israel's biggest life insurer, is in talks to buy Tel Aviv real estate from Gaydamak for NIS 1.5 billion, according to themarker.com.
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