Israeli Real Estate Market Sees Price Drops Amidst Buyer Hesitation
A report highlights significant price drops in the Israeli real estate market, particularly in the affluent town of Savion, which has become a battleground for wealthy residents. One instance details a situation where a kibbutz's value soared to NIS 9 billion, enriching its members, only to collapse entirely due to "mistakes" made.
Another case involves a rare apartment overlooking the Western Wall being listed for NIS 50 million by its 91-year-old owner. The article also touches upon the high monthly payments, reaching thousands of shekels, that residents of high-rise buildings are required to make. Furthermore, it mentions a contractor who previously haggled over NIS 5,000 now willing to sell for NIS 100,000 less, indicating a shift in the market.
The piece also references a complete breakdown in a business relationship between two prominent families, with members being called "traitors." This suggests underlying tensions and conflicts within the business and social circles discussed.
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