Real Estate Broker: Developers Now Willing to Accept Significant Losses

Gali Appel Kastel, a real estate broker and marketer, stated that developers who previously refused deals over minor sums are now willing to accept substantial losses to close sales. She noted that a developer who once rejected a deal due to a difference of NIS 5,000 would now sell for NIS 100,000 less than the asking price.

This sentiment reflects a significant shift in the real estate market, likely influenced by broader economic conditions and potentially a slowdown in sales. The article implies that the market is experiencing pressure, forcing sellers to be more flexible on pricing to secure transactions. Appel Kastel's observation suggests a buyer's market may be emerging, or at least a market where sellers are more anxious to liquidate assets.