"Tel Avivians are fleeing Tel Aviv," says a marketing manager at a company constructing residential buildings in Petah Tikva, Netanya and Rishon Letzion. This feeling, prevalent among real estate agents in Tel Aviv's satellite cities, is now supported by precise data obtained by Calcalist.
A survey conducted by the Real Estate Appraisers Association found that 20% of the apartments sold in Tel Aviv in the last year belonged to Tel Aviv residents who chose to move to another city; two years ago the rate stood at 12%.
Real estate prices in the city are a major factor leading to the increased negative migration. According to the Real Estate Appraisers Association, prices have gone up by 32% in the past year.
In addition to increased real estate prices across the country, Tel Aviv housing prices went up due to a number of local factors, including new luxury towers and the historic preservation of buildings in the city center. Prices also went up in the satellite cities that Tel Avivians are moving to, but the average price hike in these cities has been 15-20%, according to the Appraisers Association.
