Luxury Housing

A luxury 5-room apartment in Ashdod sold for 6.46 million NIS at the Gabai Group's The Lux project. The buyer, a Swiss-French resident of Geneva, highlights rising foreign demand for prime coastal real estate in Ashdod.

Despite market headwinds, the company marketed apartments at an average price of 6.7 million shekels. In Sde Dov, 65 units were sold, including 46 formal sales contracts. The company reported a recovery in July-August following a slowdown in the second quarter.

With five luxury assisted living complexes and growing demand, "Ad 120" CEO Tomer Rosenberg explains how the longevity model is changing the field: "I don't expect anyone to live to 120, but to live in the best way possible."

Alongside the market slowdown, Bank of Israel data reveals that the volume of mortgages for apartments worth over 5 million shekels is soaring — this figure is critical for the housing market. The surprise: how many of the wealthy are taking a mortgage of over 60% of the property value.