While Minister of Finance Moshe Kahlon and the rest of the Israeli government attempt to address the high housing prices across the country, real estate deals on the ground continue to break records.
In Netanya's southern neighborhood of Ir Yamim, a 232 sq. m. penthouse apartment was sold two months ago for NIS 22 million. The three-level residence sits on the 22nd floor of the YAM tower being built by Briga Real Estate.
The apartment has 270 sq. m. of balcony space and includes a private pool, a dry and wet sauna, a private elevator, and other amenities.
Excluding the balcony areas, the penthouse was sold based on a calculation of NIS 95,000 per sq. m., or NIS 60,000 per sq. m. if half the balcony space is counted, as is usual with this type of luxury residence an astronomical price for a single apartment in Netanya.
According to the realtor, the apartment was purchased by an Israeli from the Sharon area; it includes three spots in the underground parking lot and a storage unit on the basement level.
According to the Israel Tax Authority, this is the single most expensive apartment sold in the city since such deals began being reported online in 1998.
The figures show the second most expensive apartment is a 446 sq. m. property near the boardwalk on the 28th floor, which was sold for NIS 20 million in July 2013.
Published by Globes [online], Israel business news - www.globes-online.com - on August 24, 2015
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