Tel Aviv Real Estate
Real estate in Tel Aviv is a hot commodity – and, even without taking into consideration the high rent prices and constant demand, an apartment in Tel Aviv is a sure way to be close to a variety of trendy, bright and lively neighborhoods in one of the most in-demand cities in the Middle East.
What is Tel Aviv like?
The People
Tel Aviv is Israel’s biggest and most lively city. It’s often considered a hotspot for liberal politics and forward thinking, and is home to the most famous and well-known Pride celebrations in the country, which happen every July. People in Tel Aviv are mostly laid-back and enjoy living a good life – probably no small part of the reason that the city is full of eateries, bars and nightclubs. However, make no mistake – Tel Aviv is also a financial hotspot, full of thriving businesses big and small, and therefore many people who live there also have a strong work ethic.
The Place
Each neighborhood in Tel Aviv has its own unique character. The neighborhoods closest to the sea are usually the most expensive, but for good reason – morning walks on the beach and afternoon swims in the hot sun are a part of what makes living in this city so wonderful.
Neighborhoods like Neve Tzedek and Florentin are known for being cool, sophisticated and arty, and also have the advantage of being close to the seaside and the Carmel Market, as well as other beloved spots. The center and Old North bring you close to the city’s museums, including the art museum, as well as the well-known Sarona Market, a foodspot where chefs both famous and up-and-coming run their restaurants. In recent years, North Tel Aviv has become just as sought after as a trendy alternative to these neighborhoods.
A small number of neighborhoods are located on the other side of the main road that runs through the city. These may be less famous and less sought-after, but they do also offer much lower property prices, causing some to consider them a possible investment for the future as the city continues to develop.
Jaffa
Technically a part of the city, but still distinct in its overall feel, Jaffa is a seaside city which feels – and in many cases, actually is – much more historical and atmospheric than many parts of Tel Aviv, which mostly consists of new builds (or highly expensive and desirable art deco houses built before Indepedence, which have earned Tel Aviv the nickname ‘The White City’).
In Jaffa, old parchment brick houses, flea markets and mosques are frequent sights. Jaffa is also well-known for its food scene, which includes seafood restaurants that take advantage of its place near the coast, as well as traditional restaurants and cafés where you can find chopped salads, fatoush and shakshuka.
The Periphery
Small cities and towns around Tel Aviv are quickly taking on the role of its suburbs. This is because prices in Tel Aviv are becoming far too high for even high-salary professionals to pay. Plans are currently in place to build a light rail system to accommodate traffic-free commutes from these areas to the city center, increasing the desirability of these places. The pace of life here is much slower and less career and going-out focused, but it’s still highly suitable for families and people on a budget.
What types of properties are best to buy in Tel Aviv?
It ultimately depends on your needs. Discussing ideas with an experienced estate agent is always a good idea – they have an excellent knowledge of the market, and are best placed to watch it and take note of the many rapid changes that occur in a city like Tel Aviv.
As a general rule, because land is less available, even small apartments are good investments – very few people in the country actually live in houses with yards and garages, as is so common in the US, and the standard for how much space a person should own is very different.
Tel Aviv is full of different types of buildings, from renovated pre-Independence homes to newly built penthouses – you will be sure to find your match in IsraelKonnect
