Four Jerusalem Luxury Apartments Sell for Nearly $27 Million Amid Market Slowdown

Four high-end apartments in Jerusalem have been sold for a combined total of approximately 100 million shekels (about $27 million USD), indicating continued strength in the city's luxury real estate market despite a broader slowdown. The transactions, reported to the Tax Authority, highlight the resilience of the premium segment.

Two of the sales occurred in the same building on Reuven Street, with each apartment fetching 25 million shekels. One unit spans 310 square meters and sold for over 80,000 shekels per square meter, while the second, larger unit of 365 square meters, sold for approximately 68,500 shekels per square meter. It is speculated that these two properties may have been purchased by the same individual or family.

Another transaction involved a 5-room apartment in the "Jerusalem Heights" project, measuring 198 square meters, which sold for 30.43 million shekels. This price reflects over 153,000 shekels per square meter and the apartment is expected to be ready in about three years.

The fourth sale, located on Rich Lishkis Street, was for a 224-square-meter apartment that sold for 17.1 million shekels, or about 76,000 shekels per square meter. This unit is scheduled for completion in nearly four years.

These deals contrast with a general slowdown in the real estate market, suggesting that the luxury sector remains robust. Recent data from the Central Bureau of Statistics showed an 1.8% rise in Jerusalem property prices in May-June.