Swiss-French Resident Buys Ashdod Luxury Apartment for $1.75 Million

A luxury apartment in Ashdod, Israel, has been sold for 6.46 million shekels (approximately $1.75 million), marking the second-highest apartment sale in the city this year. The buyer is a resident of Geneva with Swiss and French citizenship. This high-value transaction highlights the premium segment of Ashdod's real estate market, particularly properties located on the coastline.

The apartment, a five-room unit on the 12th floor, was sold in The Lux project by the Gabai Group, situated on Lido Beach near the new promenade. The project, which includes two residential buildings with around 103 units ranging from three to five rooms, has seen over 30 apartments sold recently, totaling approximately 156 million shekels. The development also features a 5-star Prima hotel, a spa, fitness facilities, and concierge services.

This sale follows another high-value transaction earlier in the year where a similar apartment was sold for 6.5 million shekels. The Gabai Group noted that the demand, including from overseas residents, indicates a market for a "living experience" rather than just a property. They expressed confidence in Ashdod's potential, especially its beachfront area, to attract buyers seeking high-end residences.