At NIS 36,360 per sqm, a 100-square meter apartment would cost NIS 3.63 million, compared with the prevailing price in the area of NIS 2.5 million.
Hebrew daily "Yediot Ahronot" reports that the owner of an eight-square meter apartment on Tchernichovky Street in central Tel Aviv is asking NIS 290,000 for the property.
The apartment is registered in the Land Registry as a gallery. It has one room, a shower, toilet, kitchenette, two windows in two different directions.
The asking price reflects a price of NIS 36,360 per square meter; a 100-square meter apartment at this price would cost NIS 3.63 million, compared with the prevailing price in the area of NIS 2.5 million.
The real estate agent told "Yediot Ahronot", "It's a tiny apartment… but it has everything… If you're smart and creative, it's a wonderful investment. It's a cool apartment; really cute. Get an architect."
Published by Globes [online], Israel business news - www.globes-online.com - on August 11, 2011
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